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Russia's Central Bank office in China to start working in 2016 — source

October 26, 2016, 21:39 UTC+3 MOSCOW

The agreement on opening of the representative office of the Bank of Russia in Beijing was signed in June 2016

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MOSCOW, October 26. /TASS/. The Representative Office of the Bank of Russia in China will start working by the end of this year, a source familiar with the situation told TASS on Wednesday.

"The Bank of Russia will open the representation in China by the year-end; they have already selected the office," the source said.

One of the first tasks of the representative office will be to coordinate cooperation between Russia and China in respect of issue of yuan-denominated Russian sovereign bonds, the source said. This matter was discussed with Chinese colleagues in mid-October, the source added.

The agreement on opening of the representative office of the Bank of Russia in Beijing was signed in June 2016. This is the first representative office of the Bank of Russia abroad and the eighth created by foreign central banks in China, the Russian regulator said earlier.

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