China And Russia Announce Bilateral Trade Will Use Local Currency Settlement

According to China Daily (China Daily) reported on November 24th, Premier Wen Jiabao of the State Council met with Russian Prime Minister Putin 23 days after announcing that China and Russia decided to bilateral relations. Trade The United States will no longer use dollars, but in its own country. currency As currency of trade settlement.

Putin said at a press conference after the meeting, "on trade settlement, we decided to use our own currency." He said the transaction between the renminbi and the Russian rupee is now between the Bank of China. market It has already begun and the Russian side will soon release.

The report also said that after the meeting, the two sides jointly hosted the signing ceremony of the 12 bilateral agreements, including energy cooperation. The 12 agreements also include aviation, railway construction, tariffs, intellectual property rights, culture and a joint communique. The specific content remains to be announced.

However, Putin disclosed that one of the agreements was that China's Tianwan nuclear power plant will purchase two nuclear power reactors from Russia.

Wen Jiabao said at the news conference that the partnership between China and Russia has reached an unprecedented height, and the two countries have promised to "never be hostile to each other". China will strengthen the path of peaceful development while supporting Russia's revival.

In November 22nd, the China Foreign Exchange Trading Center announced that, with the authorization of the central bank, the renminbi will be traded on Russian rouble from now on. On that day, the central price of RMB against ruble was 1 yuan to 4.6711 rubles.