Last week, Kremlin spokesman Dmitry Peskov spoke of the special relationship between Russia and China. “Our partner,” is how he described it.
Nowhere is the close relationship between the two countries more visible than in banking.
For the last 18 months, Credit Bank of Moscow CBM, the country’s eight largest bank in terms of assets, has been leading the way as it develops an ever-closer relationship with China.
It is starting to embed itself in the Asian financial landscape.
For example, in April last year, the bank raised a $500 million syndicated loan with ICBC and Harbin Bank as lead...