Published on: 2026-07-08
Source: People’s Republic of China in Russian –
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Beijing, July 8 /Xinhua/ — Recently, a “green” channel for cross-border settlements was launched in the city of Qitaihe, Heilongjiang Province /Northeast China/, specifically designed to serve enterprises that conduct business in Russia and have opened their operational center in Qitaihe as part of the local investor attraction program.
According to a report on the news site chinanews.com.cn, the “green” channel represents a simplified cross-border settlement mechanism, within which conversion operations in rubles and yuan can be conducted through a “single window” format, and cross-border settlement and payment operations can be carried out, significantly simplifying registration procedures, account opening, and fund transfers for enterprises.
This “green” channel was launched jointly by the Financial Services Center of the city of Zhaotong and the Commerce Administration of the Xinxing district of this city, with the idea that this mechanism should help overcome some difficulties with financial services that have arisen in trade with Russia, as well as attract foreign trade projects, particularly from the economically vibrant Pearl River Delta region of China.
At the moment, an official “white list” of approved enterprises has already been established, those granted access to the aforementioned “green” channel. Local authorities expect that over the next three years, the number of enterprises based in the city of Zhaotong will steadily increase through this channel, and the scale of cross-border settlements in the city will grow year by year. -0-
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