Andrei Kazmin, SBERBANK OF RUSSIA chairman, and Wang Yi, China Development Bank vice governor, have signed a cooperation agreement. The signing was timed to coincide with the China Year in Russia, in which SBERBANK takes an active part. The main goal of the agreement is to expand and upgrade the two banks’ cooperation in fields ranging from financial market transactions to investment and trade financing. (Note: Founded in 1994, the China Development Bank is 100% controlled by the Chinese Finance Ministry and enjoys ministerial status in addition to the Central Bank of China. The CDB aims to promote national economic growth and industrial development.)
Source: WWW.NOVECON.RU, March 28, 2007
