The Chinese authorities have allowed the usage of the Russian ruble in the border city of Suifenhe, Xinhua agency reported on December 8. Suifenhe became the first city in the history of China, where a foreign currency was permitted.
According to the State Council, the Chinese can use rubles to pay for goods and services. Deposits and withdrawals are legalized in local banks.
The People's Bank of China believes that the move will turn Suifenhe into “a model site for the ruble-yuan trade” and help to counter illegal currency exchange operations.
Suifenhe is located in northeast China on the border with the Primorsky Krai. Its population is about 60,000 people. The city is very popular with the Russian tourists who come there for shopping. There is an Orthodox church in Suifenhe, also the local TV channels broadcast in Russian.
