🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

China foreign minister says willing to help Russia

Published 22/12/2014, 04:09
© Reuters. Chinese Foreign Minister Wang Yi gestures during a news conference on Asia-Pacific Economic Cooperation (APEC) related meetings at the China National Convention Center in Beijing
USD/RUB
-

BEIJING (Reuters) - China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems, Chinese Foreign Minister Wang Yi was quoted as saying in a state newspaper on Monday.

The rouble has dropped about 45 percent against the dollar this year, suffering particularly steep falls early last week. President Vladimir Putin has declined to call it a crisis and said the currency would eventually rise again.

Wang, speaking to reporters over the weekend, said that Russia also had the "wisdom" to get out of difficulties, the official China Daily reported.

"If the Russian side needs, we will provide necessary assistance within our capacity," he said, noting that the two countries had consistently helped each other.

He did not elaborate.

China's trade minister, also speaking at the weekend, proposed more use of China's currency in settling trade with Russia in the face of the weaker rouble to ensure safe and reliable trade.

China and Russia have close diplomatic and economic ties, particularly in the energy sector.

However, China has largely stayed out of the crisis over Ukraine, trying not to be seen to take sides and calling for talks to resolve the issue.

China's exports to Russia rose 10.5 percent and imports climbed 2.9 percent in the first three quarters of the year from the same period in 2013, with total trade valued at $70.78 billion.

© Reuters. Chinese Foreign Minister Wang Yi gestures during a news conference on Asia-Pacific Economic Cooperation (APEC) related meetings at the China National Convention Center in Beijing

China's foreign exchange regulator said last week that they were closely monitoring the slide in the rouble but that they hadn't seen a significant impact on cross-border capital flows.

(Reporting by Ben Blanchard; Editing by Joseph Radford)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.