Central banks of China, Russia sign financial cooperation pact

Reuters:The central banks of China and Russia signed a memorandum of understanding (MoU) on Thursday to promote financial cooperation, the People’s Bank of China said in a statement of its website.

The agreement covers cooperation to promote local currency settlements, access to local-currency bonds and payment and bank card partnerships.

It was signed by Zhou Xiaochuan, the governor of China’s central bank and Russian central bank head Elvira Nabiullina.