Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Sberbank Started To Cooperate With Chinese Banks
November 17, 2014 19:44


A number of agreements on cooperation between Sberbank of Russia and the two largest Chinese banks, as well as the Chinese Export Insurance and Credit Corporation were signed at the APEC summit.

According to German Gref, these agreements provide for a wide range of financial solutions for the clients of Sberbank. This is stated in the press release of the Russian financial organization sent to The framework agreement on credit lines with the Export-Import Bank of China concerns the financing of trade between China and Russia. It includes agreements on credit lines for the amount of two billion dollars, credits to buyers for financing of floating capital in the amount of 3.1 billion yuans, as well as the credit to buyers for crediting of supplies of Chinese equipment. Under the singed agreements, Sberbank implements first attraction of resources in yuans to Russia, and the EximBank of China will provide financing by transferring yuans abroad for the first time.

The agreement on cooperation in several business areas was signed between Sberbank of Russia and the Bank of Harbin. These include agreements on trade financing, documentary business, correspondent relationships and transactions on the financial markets. Besides, the agreement provides for the granting of the loan to Sberbank of Russia, which will be used for trade financing of its customers.

Sberbank of Russia and China Insurance and Credit Corporation signed a framework agreement on cooperation for the amount of $ 2 billion. This agreement is aimed at the enhancement of long-term cooperation in financing of projects connected with the supplies of goods and services from China, joint investment projects, projects on localization of goods production by Chinese companies and other types of cooperation in Russia, CIS and other operating countries of the parties.

According to German Gref, the Head of Sberbank of Russia, the signed agreements constitute the necessary legal framework for cooperation with Chinese financial companies, as well as certify the terms of financing for specific transactions between Russian customers and Chinese customers of the agreement parties. German Gref also noted that several landmark transactions will be implemented in the near future.

Author: Anna Dorozhkina

Tags: Sberbank     

Next Previous

You might also find interesting:

Russian MOFA Comments On Assad's Resignation Forbes Rating Of the Largest Companies Includes 27 Russian Corporations New Oil Cartel Yandex Posts 3Q Financial Results The Cost Of Salmon Caviar In Kamchatka Increased By 30 Percent

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Jewellery Exhibitions  Mercedes-Benz Fashion Week Russia  Photography  National Russian Drinks  Jews in Russia  Euro-2012  Irina Prokhorova  travel to Russia  International space station  Jazz  Russian Avant-Garde  Space Topography  September Electric  Tomsk  Ecotourism  Russian people  Russian government  Yul Brynner  Music Festivals  Moscow  Smoking in Russia  St. Petersburg  Ukraine  St. Petersburg Theatres  Russian Cinema  Arctic  Czech Republic  Festival "Ice Moscow"  Exhibitions in Moscow  Architecture  Russian business  Pushkin Museum of Fine Arts  Penza  Labour Day  Facebook  Boris Nemtsov  the Russian Army   Festivals in Moscow  Okhotsk Sea  Fires  Russian regions  Alexander Lebedev  Soviet Writers  Sokolniki Park  Russian tourism  Historical Exhibitions  Short-Length Films  Painting  Ethnomir  Ulan-Ude 

Travel Blogs
Top Traveling Sites