MOSCOW, March 1 The Russian central bank plans
to open an office in Beijing in mid-March, a central bank
official said on Wednesday, as Moscow looks into borrowing in
Speaking at a Russia-China conference in Moscow, Vladimir
Shapovalov, a senior central bank official, said the Bank of
Russia would open its first foreign office in two weeks' time.
Shapovalov said the move would help develop the two
countries' capital markets and boost settlement in national
Russia and China have already created a clearing centre in
Moscow that can handle yuan transactions. Closer cooperation
should pave the way for a Russian finance ministry plan to issue
treasury bonds denominated in yuan.
Russia wanted to borrow Chinese yuan -- for the first time
-- in 2016, but had to postpone the plan.
A Moscow Exchange official said on Wednesday Russia was
considering borrowing around $870 million by selling so-called
Baikal treasure bonds denominated in yuan this year.
(Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh;
Editing by Andrew Osborn)