China, Russia to enhance financial ties

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Last updated at: (Beijing Time) Friday, November 28, 2003

China, Russia to enhance financial ties

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The Chinese Monetary Society and the Association of Russian Banks vowed Friday to exert their utmost efforts to promote the relations and business cooperation between Chinese and Russian banks and other financial institutions.

According to an agreement signed by the two sides at the closing ceremony of the second China-Russia Financial Forum, their cooperation will cover the following areas:

-- to research theoretical and business issues that both sides are interested in, catering to the demand of mutual development offinancial business;

-- to swap information on the financial systems of the two countries and financial policies and foreign exchange administrative rules of the two governments; and

-- to provide necessary and mutually beneficial assistance for all financial institutions in the two countries to conduct information exchange and business cooperation among other ties.

Addressing the ceremony, Vice-Governor Wu Xiaoling of China's central bank expressed her hope that a bridge could be built between the Chinese and Russian financial circles through the formof China-Russia Financial Forum, so as to make contributions to the Chinese and Russian financial sectors by enhancing understanding, promoting cooperation and developing together.

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