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Russian companies step up efforts to enter Chinese stock markets — lawmaker

Ivan Abramov added that interregional ties are acquiring a significant role in the development of the Sino-Russian relations as they are turning into new growth points for practical cooperation

MOSCOW, August 26. /TASS/. Russian companies have stepped up efforts to obtain credit ratings in China and list bonds on the country's stock markets, Ivan Abramov, first deputy chairman of the Russian Federation Council (upper house of parliament) Committee on Economic Policy, said at the tenth meeting of the Interparliamentary commission on cooperation between the Russian Federation Council and the National People's Congress of the People's Republic of China in Beijing.

"Leading Russian corporations and companies have stepped up efforts to obtain credit ratings on the international and national scales from Chinese rating agencies, and they are bringing bonds to the stock markets of the People's Republic of China," he said and called this area a promising direction for expansion of the two countries’ cooperation.

Moreover, interregional ties are acquiring a significant role in the development of the Sino-Russian relations as they are turning into new growth points for practical cooperation, the lawmaker added. "A total of 117 cooperation agreements in various sectors have been signed between 43 [Russian] constituent entities and 29 regions of China. Russian municipalities have 313 twinning agreements with Chinese partners," Abramov said.

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