Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, participates in a press conference of the State Council Information Office on promoting the premium advancement of the Banking and Insurance Industry on March 2, 2021 in Beijing.
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BEIJING– China’s banking and insurance coverage regulator stated on Wednesday that the nation opposes and will not sign up with monetary sanctions versus Russia
“Everyone is watching recent military conflict, or war, between Russia and Ukraine,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, stated at an interview in Mandarin, according to a CNBC translation. “China’s position has been stated clearly by the Ministry of Foreign Affairs. Our international policies are consistent.”
“Regarding financial sanctions, we do not support that,” stated Guo, keeping in mind specific opposition to “unilateral” sanctions, which he stated do not efficiently address issues. “China won’t join such sanctions.”
Guo is likewise Chinese Communist Party secretary of the People’s Bank of China, the nation’s reserve bank. He included Wednesday that he hopes all sides will keep regular financial exchanges which the sanctions have actually had no evident effect on China up until now.
China’s Ministry of Foreign Affairs has actually declined to call Russia’s attack on Ukraine an intrusion. Beijing’s line has actually been to promote settlements, as China attempts to place itself even more far from Russia than was depicted in early February throughout a prominent conference in between Chinese President Xi Jinping and Russian President Vladimir Putin.
The U.S., U.K., European Union and Japan have actually rushed to slap sanctions on Russia, initially in an effort to avoid dispute with Ukraine, and consequently to pressure Putin to stop his intrusion ofUkraine
