Research On Sino-Russian Financial Cooperation

China and Russia,as two representative emerging economies in the world,have already cooperated in various fields,including cooperation in the financial sector.The progress of it is of great significance in supporting China-Russia bilateral trade and investment as well as their own strategic development.The cooperation between China and Russia in the financial sector has achieved certain results in terms of level and content.For example,in 2018,Russia’s purchase of Chinese goods was settled in RMB at a rate of 15%,and this figure was less than 5% in 2015.However,in the process of China-Russia financial cooperation,there are many problems need to be solved.Under this circumstances,this article is to explore the necessity of strengthening China-Russia financial cooperation and cooperation achievements.It summarizes the existing problems and analyzes its influencing factors.Further,it gives countermeasures and suggestions to promote financial cooperation to help it deepen its development.This paper first analyzes the necessity and achievements of China-Russia financial cooperation,and then finds and summarizes the problems of the current stage,such as limited development space,unsound local currency settlement services,lack of financial supervision,etc.,and further explore the influencing factors of it.Through the combination of quantitative and qualitative methods,this paper finds that the unbalanced commodities trade structure,the differed financial systems and and the devaluation of the ruble all restrict the development of financial cooperation.Finally,based on the previous research results,the countermeasures are proposed for China-Russia financial cooperation,including: consistently perfecting cooperation mechanisms,rationally using multilateral mechanisms,broadening cooperation space,improving the level of cooperative services,and improving the financial supervision system.