Within the framework of bilateral cooperation between the Asian-Pacific Bank and the financial institutions of the People’s Republic of China, the APB delegation held a series of working meetings in Vladivostok from 2 to 4 July 2019, aimed at confidence building and further developing of mutually beneficial cooperation.

On July 3, a working meeting was held between the delegation of the Asian-Pacific Bank and the chairman of the branch of the People’s Bank of China in Russia, Mr. Zhao Zhongbin. During the negotiations, they discussed the specifics of settlements in national currencies, the banknote business, as well as legislative issues of regulation in the field of international settlements in the PRC.

The economic and strategic partnership between China and Russia is going through a most favorable period, this opens up new opportunities for bilateral economic cooperation, as well as increases its potential. The delegation of the People’s Bank of China made a point of growing the APB banknote business with Chinese counterparties and expressed a wish to visit Asian-Pacific Bank.

The People’s Bank of China is the central bank of the People’s Republic of China, exercising its functions under the authority of the Government of the PRC.

The APB delegation also held negotiations with representatives of the Hunchun Rural Commercial Bank. They discussed issues of bilateral cooperation, the establishment of correspondent relations, and the conduct of operations in financial markets.

Hunchun Rural Commercial Bank carries out banking activities in the following areas: deposit and lending transactions, settlement and cash services, promissory notes, bonds, interbank lending, brokerage services, insurance, bank cards, currency transactions, financial marketing, etc.

The delegation of APB held negotiations with representatives of Longjiang Bank regarding mutual cooperation. During the meeting the issues of a strategic nature, promising areas and increase in the bank’s limit field were discussed, which contributes to the increasing of clients ’opportunities in financing of export-import operations.

Longjiang Bank is one of the leading financial institutions in Heilongjiang Province and one of the main partners of APB in the Chinese market. In terms of assets the Bank is ranked 52 in the PRC and has 222 branches.