TBILISI, August 26. /TASS/. Russia will consider options for issue of bonds denominated in the Chinese currency, Deputy Finance Minister Sergey Storchak told TASS.
According to him, the Finance Ministry and the Central Bank will set up a special group for this purpose.
"We are now studying how the national [Chinese - TASS] market is regulated. Earlier the Finance Ministers of the two countries agreed to set up a special working group will be formed which comprises officials of the ministry and the regulator. This group will study the national legislation and rules of admitting foreign securities to the national debt markets," Storchak said.
On the one hand Chinese investors should know how to enter the Russian market and acquire debt instruments from the government and corporations. On the other hand Russian authorities and companies should know how they can offer their debt instruments to Chinese investors, the Deputy Finance Minister said.
He added that it would be reasonable to involve representatives of banks and companies which are interested in issuing bonds denominated in yuan.
"This is a very complicated work, which requires special skills and experience. I hope that we will do this work together with the representatives of banking and non-financial agencies which are concerned. This is the case when a private sector could go ahead of the state," Storchak said.
In June, Finance Minister Anton Siluanov said that Russia will offer Chinese authorities to lift restrictions on work of Chinese banks on Russian bond market.
The minister also confirmed that at the meetings with the representatives of the Chinese financial authorities had discussed the possibility of Russian companies participating on the Chinese market.
"If there is an interest from corporate agencies in entering the Chinese market and securities denominated in yuan, the Chinese side will give us that opportunity," Siluanov said.