China Will Support Russia's Issuance of Yuan-Denominated Sovereign Bonds
Yicai Global
/SOURCE : Yicai
China Will Support Russia's Issuance of Yuan-Denominated Sovereign Bonds

(Yicai Global) June 20 -- The seventh China-Russia Financial Ministerial Dialogue was held in Shanghai yesterday. The two countries discussed cooperation on yuan-denominated sovereign bonds, and China said it will support Russia's issuance of them in due time.

China and Russia will enter into an agreement on bilateral auditing and supervision cooperation, initiate talks on mutual recognition of accounting standards, advance exchanges on treasury management reform, strengthen coordination on tax system restructuring measures and provide a sound policy environment to boost economic and trade investment between the two countries.

China and Russia said that continued efforts would be made to harmonize macroeconomic policy and share reform experience. They agreed to leverage the BRICS Summit in Xiamen to work with other BRICS members to advance global governance reorganization, fight trade protectionism, develop an open world economy, discuss financing cooperation under the One Belt, One Road initiative and promote the establishment of a diversified, long-lasting, stable, sustainable and risk-controlled financing system.

Chinese Finance Minister Xiao Jie and his Russian counterpart Anton Siluanov co-chaired the dialogs. Senior officials from the countries' finance and foreign affairs ministries, including Chinese Deputy Financial Minister Shi Yaobin and Russian Deputy Finance Minister Sergei Storchak, attended the gathering.

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Keywords: RUSSIA , Bond