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Moscow to be a New Offshore Centre of the Yuan

https://doi.org/10.26794/2308-944X-2019-7-1-6-18

Abstract

In the paper, the author has formulated and proven the hypothesis according to which among the international financial centres of the BRICS Moscow is the most promising one in terms of becoming a new yuan’s offshore centre since there is a working niche for trades in currency pair rouble/yuan. And also, there are commercial banks in Moscow that take deposits in yuan both from individuals and legal entities. According to the conducted research, the author demonstrated the opportunities and optimal ways to use an advantage which presupposes the creation of an investor-friendly environment for Brazil, India and South Africa to trade in currency pair rouble/yuan at the Moscow Exchange. It can be possible in case of direct settlements in yuan in case of direct transactions between the mentioned countries and China both when exporting and importing.

About the Author

M. Zharikov
Financial University
Russian Federation

Mikhail Zharikov, Doctor of Economics, Professor of the World Economy and World Finance Department

Moscow



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Review

For citations:


Zharikov M. Moscow to be a New Offshore Centre of the Yuan. Review of Business and Economics Studies. 2019;7(1):6-18. https://doi.org/10.26794/2308-944X-2019-7-1-6-18



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ISSN 2308-944X (Print)
ISSN 2311-0279 (Online)