OREANDA-NEWS. The Central Bank of the Russian Federation (Bank of Russia) and the People’s Bank of China (PBC) signed an agreement on the establishment of the representative office of Bank of Russia in Beijing. This is the first foreign representative office of Bank of Russia, and the eighth representative office established by foreign central banks in China.

The establishment of Bank of Russia’s representative office in China will further strengthen cooperation between PBC and Bank of Russia, and promote bilateral financial cooperation as well as economic and trade relations.