Russia, China to Use Hard Currency in Their Military Technology Trade

China intends to make all her payments as concerns military technology trade in hard currencies. This will make easier cooperation between Russian and Chinese companies. This is according to what Mikhail Kasyanov, Russia's Prime Minister, said while speaking today in Beijing about the Results of his meeting with Jiang Ze Ming, Chairman of the People's Republic of China. According to the Department of Information of Russia's government, Mr. Kasyanov also noted that for Russia's companies this would eliminate the necessity to sell goods Chinese partners offered in payment for services rendered.

As to the restrictions on the imports of Russia's steel introduced by China, Mikhail Kasyanov said, referring to Chinese leadership, this measure was not directed against Russia. According to the Prime Minister, the leaders of China said they did not intend to cut imports from Russia and that in 2002 the overall volume of Russia's supplies to Chinese markets would be no smaller than in 2001.