Which major Chinese banks work with Russia

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Of the four largest Chinese banks, only two continue to officially cooperate with Russia (there are about 120 of them in China):

China Construction Bank;
Agricultural Bank of China.
At the same time, they complicated the regulations for crediting funds and introduced new requirements for documents - for example, the provision of an export declaration, details of the supply chain of goods, information about the importer's end customers in his country and a description of distribution channels.

As a result, the flow of payments from Russia was redistributed from the “big four” to Chinese mid- and small-tier banks.

Russian entrepreneurs are also considering options nigeria whatsapp phone number for working through intermediaries. In this case, money is transferred to payment agents in third countries (for example, to Kazakhstan or Kyrgyzstan) or to a ruble account of a non-resident company in Russia. After that, intermediaries send funds to suppliers on their own behalf or again use third companies. Such agents usually charge from 4% to 6% of the transfer amount.



Is it possible to pay in rubles instead of yuan?
You can pay in rubles through small regional banks in China or with partners who have opened accounts in Russian financial institutions.

It is important to persistently offer payments in rubles, even if you are afraid that Chinese partners will refuse to accept ruble payments, or have already refused. In my opinion, the more Russian entrepreneurs start talking about this option as a priority during negotiations with their counterparties in China, the easier it will be for Chinese organizations to accept it.

In 2022, we already observed a similar situation: partners did not want to switch from dollars to yuan when paying for goods and services, but over time they adapted, and the process improved.

In addition, when transferring in rubles, only a commission for currency control is charged. Therefore, orient your partners from the Celestial Empire towards ruble payments - it is more profitable for you.

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