Ailing rouble poses risks to China

Regulator urges Chinese exporters to hedge bets on forwards and swaps

The panic from Russia's beleaguered currency has not yet reached the Chinese foreign exchange market, but economists are warning about a chain reaction from economic turmoil in the nation's large neighbor.

Following the sharp drop in world oil prices, the rouble plunged about 20 percent against the dollar at one stage on Tuesday, sparking fears of a financial meltdown.