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Great Stone to be promoted as EAEU main platform for transactions in yuan

18 September 2020

MINSK – The China-Belarus industrial park Great Stone will be promoted as the main platform for cross-border transactions in yuan in the Eurasian Economic Union (EAEU), BelTA learned from the website of the industrial park.

On 17 September, the People's Bank of China held a meeting to discuss ways to use the Chinese yuan in the Great Stones more. The meeting featured senior officials and representatives of the People's Bank of China, SZAO Industrial Park Development Company, China Investment Insurance, the Bank of China branch in the province of Shaanxi, the China Construction Bank branch in the province of Shaanxi, and the Moscow branch of the Bank of China.

“The parties decided to find ways to promote the China-Belarus industrial part as the main platform for cross-border transactions in yuan in the Eurasian Economic Union,” the website reads.

The China-Belarus industrial park Great Stone is a special economic zone with a special legal regime. The park is located 25km from Minsk. The Great Stone is home to resident companies from 15 countries. Priority lines of activity for the park include mechanical engineering, electronics and telecommunications, biotechnology, pharmaceuticals, new materials, logistics, e-commerce, data storage and processing.

BelTA

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