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Medvedev: Diverse payment channels ensure global financial stability

By Zhang Yue | chinadaily.com.cn | Updated: 2017-11-01 20:06
The world needs a more balanced financial system based on various channels of payments as well as currency reserves to ensure financial stability, visiting Russian Prime Minister Dmitry Medvedev said on Wednesday.

He made the remarks in response to a question whether the current leading role of the US dollar may lead to imbalance in international financial market when he met the press with Premier Li keqiang on Wednesday in Beijing.

"The global financial market should not be led by the currency of one single country only, because in that case the world market will heavily rely on the economic status of one particular country. That will lead to more instability of the entire global financial market," he said, adding that even developed economy like the US also have problems, and more currencies of payment will lead to a more balanced global financial market.

He said Russia is working to introduce more Chinese payment system into the country, such as the Union Pay.

Li and Medvedev held the 22nd regular meeting between Chinese and Russian prime ministers on Wednesday morning. Medvedev started his three-day visit to China on Tuesday.

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