China supports new international settlement methods

Beijing, Jan 30 (Prensa Latina) China supported, on Tuesday, Russia's efforts to optimize international settlement methods between emerging markets and developing countries, such as the BRICS Group members.

January 30, 2024
08:48

Foreign Ministry, Wang Wenbin, noted that maintaining global financial stability and improving economic governance are significant aspects of economic and financial cooperation at an international level, which meets the common interests of all countries.

Wang stressed that optimizing global settlement methods eases economic exchanges, trade, and investment between these markets.

“China supports the efforts of relevant mechanisms and is ready to play a leading role in improving global economic governance,” he added.

Moscow is reportedly discussing with other BRICS members (Brazil, Russia, India, China, South Africa, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates) a new form of transferring financial information.

This group’s de-dollarization and cooperation with developing countries were central issues of the 15th BRICS Summit held in August 2023.

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