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Russian Finance Ministry wants to see Chinese investors in Russia, not vice versa

June 06, 11:41 UTC+3
1 pages in this article

BISHKEK, June 6. /TASS/. Russia’s Finance Ministry wants to see Chinese investors in Russia and not to place yuan-denominated bonds in China, Deputy Finance Minister Sergey Storchak told reporters

"The leadership on yuan procedures belongs to the Central Bank and the Exchange. They are to create the platform, while the Finance Ministry will use it or won’t do it. We see the situation a bit differently. We would like to see Chinese investors here not vice versa - when we enter their market with our securities," he said.

Storchak added that the Ministry first needs to understand the demand for bonds in the Chinese currency.

"Again in order to make a decision we should fix the demand for Russian instruments among Chinese investors," he said.

In 2015, the Finance Ministry and the Central Bank formed a special group to study the possibility of issuing bonds denominated in yuans.

As Storchak said earlier, if the decision on the placement of such securities is made, the volume of the issue should be the standard. The standard amount for a bond issue in the euro is 500 mln in dollars - $1 bln.

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