THE CONTEMPORARY BANKING SYSTEM OF THE PEOPLE’S REPUBLIC OF CHINA

Cooperation with banks of the People’s Republic of China (hereinafter referred to as China, the PRC) becomes a crucial component for successful development of large and small business in Russia. The Chinese banking system has proven its efficiency as an important development institution of one of the world’s leading powers. This experience may be in great demand in the Russian reality. Besides, the situation in the Russian-Chinese financial and banking logistics proves relevance of using experience of the PRC in the development of the national banking system. The authors emphasize special aspects of the banking system of the PRC that characterize its levels, the system of laws that govern banking activities and the current status taking into account the development of banking relations between Russia and China against the background of escalation of Chinese-American relations, U.S. sanctions.