It is known from Harbin Center branch of People’s Bank of China, Heilongjiang Province dealt with 0.545 billion yuan of RMB settlement business to Russia in 2011, increasing 155% than that in the year growth. It accounts for more than 20 percent of RMB settlement in China and Russia last year. It will increase RMB share in local currency of Sino-Russian settlement this year.

The data offered by Harbin Center branch of People’s Bank of China shows Heilongjiang Province dealt with 0.545 billion yuan of RMB settlement to Russia in 2011, increasing 155% than that in the year growth. 25 overseas RMB direct investments to Russia value 94 million yuan. 263 RMB purchase and sale to Russia values 0.257 billion yuan.

It is known 12 commercial banks in Heilongjiang have built agencies with 24 commercial banks in Russia. There are 111 agent banks between China and Russia. It has accumulated valuable experience in ruble notes exchange, the Sino-Russian direct exchange rate formation and financial products and pricing to Russia.