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China transports15 million yuan in cash to Russia

ITN News Editor
By ITN News Editor May 30, 2018 12:12

China transports15 million yuan in cash to Russia

China’s Heilongjiang Province allocated and transported 15 million yuan in cash to Russia, marking the official establishment of a land route of transporting cash from China to Russia. The trucks loaded with boxes of cash left China for Russia through Dongning Port in the city of Dongning, northeast China’s Heilongjiang Province. The cash transport is designed to meet the growing demand for the Chinese currency in Russia’s Far East. The use of the renminbi will not only reduce foreign exchange costs and risks, bus also reduce the fees charged on cash payments in the renminbi market in Russia. Heilongjiang reported a 47.7 percent annual growth in its trade with Russia in the first quarter of the year.

ITN News Editor
By ITN News Editor May 30, 2018 12:12

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