VUZ-Bank now performs transactions involving the Chinese currency. The bank’s business customers can now enjoy clearing settlements, including exchange of currency, opening and closing of the transaction export and import passes in the Chinese yuans.

This means the bank’s customers can make yuan payments to their partners in China promptly and inexpensively.

The Chinese economy is now one of the world’s most dynamically developing ones, the Chinese national currency has an important role to play on the global financial market, so there is every reason to believe that the need for yuan settlements will only grow keener over time,’ says the bank’s Foreign Currency Control Director Alexander Chupriyanov.