China Payments Underground: Exclusive Look at Company Strategies Amid Russia Trade Challenges
Beijing, China – Amid growing economic tensions between China and Russia, Chinese firms are finding new ways to navigate payment hurdles in their trade relationships with Moscow. As Western banks pull back from facilitating transactions with Russia, Chinese companies are resorting to more discreet methods when it comes to settling payments, going underground to avoid disruptions in their business activities. The decline in Chinese exports to Russia has been attributed to both rising import costs …