Russia’s Finance Ministry says the yuan accounts for 30.4 per cent of the National Wellbeing Fund’s holdings. Photo: AFP
Russia’s Finance Ministry says the yuan accounts for 30.4 per cent of the National Wellbeing Fund’s holdings. Photo: AFP
Economy /  China Economy

China welcomes bigger role for yuan in de-dollarised Russian sovereign wealth fund

  • Moscow’s move reflects confidence in Chinese economic development, foreign ministry says
  • Drive to shed US currency comes as both countries come under American sanctions pressure

Karen Yeung
Karen Yeung

Updated: 5:29pm, 10 Jul, 2021

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Russia’s Finance Ministry says the yuan accounts for 30.4 per cent of the National Wellbeing Fund’s holdings. Photo: AFP
Russia’s Finance Ministry says the yuan accounts for 30.4 p