China eyes to create new banking system to keep financial co-op with Iran

Baku, Azerbaijan, Oct. 29

By Elnur Baghishov – Trend:

Beijing intends to create new banking system in order to continue financial and banking cooperation with Tehran against the possibility of breach of relations between China’s Kunlun Bank and the Iranian businessmen, well informed circles in Beijing told IRNA news agency.

They noted that an alternative system is being created and to date, the experts of the two countries have organized several meetings to flesh out the details.

The Kunlun Bank stated that it does not provide guarantee for banking relations with Iran beginning from November 1 due to the pressures exerted by the US.

The new system will serve as an alternative to Kunlun Bank and will start functioning from November 1 or a little bit later, said the sources.

Meanwhile, the Chamber of Commerce of the Iranians residing in China participating in the meeting between the Iranian and Chinese officials requested to consider their requirements in the new system.

The creation of alternative institutions by China may take a bit more time. Just for this reason, it is forecasted that the launch of the new system will be postponed to 2019.

Macron to hold phone talk with Iranian counterpart over JCPOA
Macron to hold phone talk with Iranian counterpart over JCPOA
Statement in support of Azerbaijan's territorial integrity adopted at conference in Iran (PHOTO)
Statement in support of Azerbaijan's territorial integrity adopted at conference in Iran (PHOTO)
Iran's Qom Seminary stands behind Azerbaijan regarding Karabakh
Iran's Qom Seminary stands behind Azerbaijan regarding Karabakh
Loading Bars
Latest
WHO Europe hopeful Covid-19 vaccines arrive in Georgia in coming weeks
Azerbaijani defense minister expresses condolences to Turkish side
China sets modest GDP growth target as economy improves
Kazakhstan may take part in restoration of Azerbaijani liberated lands
Vanuatu, New Caledonia, Tonga evacuate people over tsunami threat
6.5-magnitude quake hits Kermadec Islands region
Uzbek and Belarusian experts to exchange experience in standardization
Italy reports nearly 23,000 new COVID-19 cases as some see "third wave"
5.9-magnitude quake jolts central Greece, no injuries reported
Georgian Railway expects to refinance Eurobonds
UK records another 6,573 coronavirus cases, 242 deaths
Azerbaijan agrees to continue existing oil production cuts in April (PHOTO)
7.3-magnitude quake hits waters off New Zealand
Armenia can also benefit from regional transportation projects if behaves in normal way - President Aliyev
Azerbaijan becomes one of Eurasia's main and reliable transportation, logistics hub - President Aliyev
We invite ECO member states to benefit from “Zangazur corridor” - President of Azerbaijan
We condemn unequal, unfair distribution of vaccines among developing and developed countries - President Aliyev
Now we are looking into future - President Aliyev
Military victory over Armenia on battlefield was also fully accomplished by political ways - President Aliyev
Stronger Turkey is, stronger is Azerbaijan and all its partners - President Aliyev
IAEA chief: Technical meeting with Iran to be held in April
WHO praises Georgia for curbing Covid-19
Belarusian BELAVIA airlines operating one-way flights on Baku-Minsk route
Macron to spare Paris region from weekend lockdown, for now
Kazakhstan determines priorities of foreign policy
Compliance services become more relevant in Azerbaijan - PASHA Bank
Several servicemen killed in military helicopter crash in Turkey
Azerbaijan doing everything to create new transport infrastructure in South Caucasus – Russian analyst
New reality created in South Caucasus - head of department at Istanbul Kadir Has University
Demining of Azerbaijani lands complicated by Armenia’s refusal to provide maps of minefields - Expert
Long-awaited end to Karabakh conflict creates new opportunities - Former US ambassador to Azerbaijan
Azerbaijan shows footage from Kechikli village of Zangilan district (VIDEO)
Azerbaijan interested in strengthening export and investment potential with Argentina
President Aliyev gives speech at virtual Summit of Economic Cooperation Organization (PHOTO/VIDEO)
MFA shares potential sectors of Lithuanian investment in Georgia
Georgian kiwi enters Japanese market
Azerbaijan's ENGINET company talks unique solutions for local market
Kazakh gold extracting venture opens tender to buy spares
Kazakhstan intends to attract funds to improve energy efficiency of facilities
Volume of food products sold in Baku's trade network increases
Georgia shows progress in curbing coronavirus cases - WHO
Azerbaijani Finance Ministry allocates funds for maintenance services
Restaurant business subsidizing program launched in Tbilisi
UK's Johnson says Brexit problems in Northern Ireland are solvable
Supporting Member Country ECAs: ICIEC endorse supportive reinsurance treaty with JLGC
Uztekstilprom, French Proparco talk profitable financing for textile projects
Georgian consulting company launching project for female entrepreneurs
Georgian wine export to US down
Russia and Azerbaijan lead in import of electricity to Georgia
Several low-cost airlines resume flights to Georgia
Azerbaijan-Belarus foreign trade operations for Jan. 2021 revealed
Azerbaijan confirms 124 more COVID-19 recoveries
Kazakhstan increasing control over development of oil and gas fields
State property privatization plan in Georgia surpasses initial plan
Several containers with cargo to pass through Azerbaijan along BTK railway - ADY Container
Rehabilitation centers can be established in Azerbaijan's liberated lands - Agency
Azerbaijan discloses number of imported cars in 2020
Uzbekistan’s 1M2021 profit for banks increases
Germany approves AstraZeneca for over-65s
New plant to be commissioned in Baku
Azerbaijan to receive Astra Zeneca vaccine via COVAX mechanism - WHO
Turkmengas opens again tender for operation of video surveillance system
Uzbekistan, Belarus agree to expand range of mutually supplied agricultural products
Uzbek currency rates for March 5
Italian Eni launches implementation of its solar energy project in Kazakhstan
Ensuring security in Karabakh our top priority - Turkish president
Georgia eyes to select new investor for Anaklia port
Creation of Kazakhstan-Azerbaijan Business Council under discussion
Covaxin demonstrates prowess of Atmanirbhar Bharat, says ICMR chief
India, Philippines sign key defence pact, set ball rolling for BrahMos missile sale
Turkey supports Georgia in deepening relations with Euro-Atlantic structures
Moldova Post plans to develop co-op with Turkmenistan in field of postal services
Georgia preparing for issuance of new Eurobond
Europe reviewing Russia's COVID-19 vaccine
German companies interested in funding Azerbaijan's railway projects
Uzbekistan to launch production of electric scooters in Fergana region
Azerbaijani State Customs Committee chairman names most-imported products for 2020
India, Norway to work together in marine spatial planning
PM Modi may launch trading points, connectivity projects in Dhaka
India to fund NRs 246 million for reconstruction of Cultural Heritages in Nepal
Kazakhstan, Tajikistan resuming mutual air traffic
Several ships and related facilities to be launched in Iranian ports
Iran reveals COVID-19 data for March 4
Azerbaijani FM’s letter to UN sec-gen disseminated as document of organization
Kazakhstan increases imports of Iran-made goods
Georgia plans to create new economic development plan
Baku Statistical Department discloses Jan. 2021 volume of paid services to citizens
Electricity production in Georgia to increase after Namakhvani HPP is ready
Uzbekistan reveals volume of industrial production for Jan. 2021
Students and graduates of Baku Higher Oil School shown high results in entrance exams for master's degree programs
Azerbaijani PASHA Bank eyes attracting IT companies to implement joint projects
Azerbaijani banks' demand at foreign exchange auction decrease
Iran’s Bahar Azadi gold coin price fell
Azerbaijan, Turkey to hold joint military exercises (PHOTO)
Turkish foreign minister to visit Uzbekistan
Volume of cargo loaded, unloaded in Iran’s Dayyer port revealed
Kazakhstan’s Ulba Metallurgical Plant announces tender to buy accumulators
Moldova Post talks details of postal communication resumption with Turkmenistan
Buta Airways to launch ticket sales for Baku-Istanbul-Baku Flights
Iran Khodro Company expects to meet forecasts
All news