The memorandum inked by the RF Federal Financial Market Service and China’s Securities Regulatory Commision multiplies the chances for China’s investors to funnel money to Russia.
Photo: Yury Martyanov
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China’s Capital Free to Invest in Russia
The companies of China will have a chance to directly launch their stocks on the market of Russia. What’s more, China will be able to place a portion of gold and foreign exchange reserves here.
Russia’s Federal Financial Market Service (FFMS) and China’s Securities Regulatory Commission (CSRC) have signed a memorandum, which purpose is to attract China’s money and financial institutions to the stock market of Russia. The preliminary agreement was attained in July, during the Chinese tour of Vice Premier Igor Sechin, said FFMS chief Vladimir Milovidov.
“Having signed the memorandum, the parties have undertaken to provide information about the issuers, including the confidential data,” FFMS expert Tatiana Medvedeva specified.
The document multiplies the chances of China’s investors to funnel money to Russia. “China is in aggressive quest for the fields to invest its capital,” Milovidov explained. “But for a raft of Chinese institutions, especially for the ones managing gold and foreign exchange reserves, the chance to invest overseas is conditioned, amid other things, to the memoranda concluded with foreign regulators.”
Central Bank of China that strives for diversification of gold and foreign exchange reserves has manifested interest in injecting money in Russia, Milovidov said.
www.kommersant.com
All the Article in Russian as of Aug. 11, 2008
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