Sberbank of Russia and the Agricultural Bank of China signed a Memorandum of Understanding. The document is signed by the President, the Chairman of Sberbank of Russia German Gref, President of the Agricultural Bank of China, Zhang Yun.
The agreement is to promote cooperation in several areas, the key of which will trade finance, payment transactions in rubles and yuan, and implementation of major joint projects.
«Russia and China are the key countries in the group BRICS: Annual trade between the two countries committed to U.S. $ 100 billion and the positive dynamics of development, — Said German Gref. — Develop cooperation with leading Chinese banks, including Agricultural Bank of China — one of the strategic directions of the international activities of the Savings Bank. The partnership with the Agricultural Bank of China and the Savings Bank will give its customers access to the financial markets of China, will diversify its sources of funding, will expand settlement business to service the trade, will support works in Beijing representative office of the Savings Bank. »