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China Globalizing Currency But Ten Years From Passing British Pound for Third


China-Russia bilateral trade was US$24.2 billion in the first quarter of 2019, according to Chinese customs. This was up 30 percent over the first quarter of 2018. China has become Russia's largest trade partner with about 14 percent of payments in yuan and 7-8 percent in ruble.

There are plans to reach US$200 billion in mutual trade by 2020, sign a local currencies settlement agreement later this year and extend the use of the national credit-card systems Union Pay and Mir in both countries.

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