Text: | Print|

    China authorizes first pilot city of Russian ruble use

    2013-12-09 08:11 Xinhua Web Editor: qindexing
    1

    Chinese cabinet has authorized Suifenhe City at the China-Russia border as the country's first pilot zone where Russian ruble can function equally as renminbi, local government sources told Xinhua on Sunday.

    Under the new policy, the Russian ruble can be freely deposited and withdrawn at local banks. People can pay their bills with rubles in Suifenhe, northeast China's Heilongjiang Province.

    It is the first time since the founding of the People's Republic of China that a foreign currency is allowed to function on a par with renminbi in a designated area in Chinese mainland.

    An official with the Suifenhe Branch of the People's Bank of China, the country's central bank, said the policy would help crack down black market transaction of rubles, and to place the exchanges under proper regulation.

    Analysts said the new policy could contribute to the formation of a direct exchange rate between renminbi and Russian ruble, and help promote renminbi use in Russian cities.

    Comments (0)
    Most popular in 24h
      Archived Content
    Media partners:

    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.

    主站蜘蛛池模板: 张北县| 彭水| 隆尧县| 册亨县| 彩票| 北海市| 新营市| 安阳县| 平果县| 西乌珠穆沁旗| 平乐县| 灵川县| 竹溪县| 夹江县| 崇左市| 中方县| 抚州市| 新乡市| 永嘉县| 固安县| 新化县| 唐河县| 类乌齐县| 堆龙德庆县| 青龙| 内黄县| 翁牛特旗| 山西省| 芮城县| 焉耆| 鹤壁市| 洪泽县| 凤冈县| 邳州市| 马山县| 西乌| 东光县| 星子县| 乐都县| 淮南市| 夏津县|