The country aims to reduce its reliance on the dollar-based global financial system as it confronts Washington’s aggressive ...

China and Russia have launched the “China Track,” a discreet payment system supporting $245 billion in trade while bypassing ...

Russia and China have developed a secret banking system to bypass Western sanctions, facilitating trade between the two ...

The new action plan to further improve the facilitation of cross-border financial services provided in Shanghai will help ...

Major Russian banks have set up a netting payments system dubbed "The China Track" for transactions with China, aiming to ...

China will take more steps to further facilitate cross-border financial services in Shanghai by leveraging the municipality's ...

Under the guidance of The People's Bank of China (PBOC) and the National Bank of Cambodia (NBC), UnionPay has further strengthened the China-Cambodia cross-border QR payment interoperability, ...

Exclusive-'China Track' Bank Netting System Shields Russia-China Trade From ... with China hit a record $245 billion last year despite payment problems and commissions running as high as 12% ...

SHANGHAI, April 22, 2025 (GLOBE NEWSWIRE) -- Under the guidance of The People's Bank of China (PBOC ... the Area of Financial Innovation and Payment Systems, agreeing to collaborate on payment ...

Russia's trade with China hit a record $245 billion ... insuring against a possible default of a payment agent or a counterparty. The system does not use the SWIFT messaging system or accounts ...