Medvedev urged to actively issue loans in rubles and yuan

© RIA Novosti / Ekaterina to Stuckinarut in fatabonapicallo the visit of Prime Minister Dmitry Medvedev to ChinaMedvedev urged to actively issue loans in rubles and yuan© RIA Novosti / Ekaterina to Stuckinarut the image Bank

Russian Prime Minister Dmitry Medvedev said he believes the right to further increase mutual lending between Russia and China in national currencies, in particular, we are talking about loans for implementation of investment projects.

The Prime Minister these days is on an official visit to China. Monday in Shanghai, he takes part in the opening of the first China international import EXPO. Speaking at the opening ceremony of the EXPO, the Russian Prime Minister stressed that now more than ever, strong interstate relations of Russia and China.

«They do not depend on economic, political expediency and built on mutual respect, considering each other’s interests. This forms the basis for the development of trade-economic and investment ties, for the expansion of mutual settlements in national currencies. I believe the right to further increase the volume of mutual lending and yuan, and rubles — referring to the loans that are for investment projects», — said Medvedev.

Moreover, he continued, the settlements in national currencies «strengthen the stability of international economic relations, Russian-Chinese relations in conditions when a number of reserve currencies become less reliable tool for international trade».

«We are moving in this direction: the Russian Vnesheconombank and the State development Bank of China signed a framework agreement. We increase the volume of bilateral trade, a role is played by the export center, which during the exhibition will open an office in Shanghai, and the relevant experts will help you find the Russian goods, consulting and financial support», — said the head of government.

He added that Russia will continue to develop comprehensive cooperation with China and other partners.

«I am confident that the first China international import Expo will be a great incentive for business development, and hence to improve the welfare of our peoples. There is a Chinese saying: «man is the most tired when standing still». But we won’t be», — concluded Medvedev.

The first China international import EXPO (China International Import Expo) opened in Shanghai on Monday and runs until November 10. The exhibition was attended by more than 2.8 thousand companies from over 130 countries and regions of the world. The Russian company is represented in five industry areas: food and agricultural products, high-tech equipment, medical equipment and supplies, services, and consumer goods. A delegation from Russia is headed by Prime Minister Dmitry Medvedev.