Advised a major Russian bank on the issue of opening its subdivision in China

The lawyers of the practice area prepared an opinion for a major Russian bank in connection with the opening of its subdivision in China. The opinion had to be submitted to the authorised body in the PRC to obtain its consent.

Considering that there is a huge demand for bank transfers between Russia and China, the opening of a subdivision in the PRC is an important step not only for the bank itself, but also for the national interests of Russia and its economic security. This should, to a considerable degree, facilitate the resolution of existing difficulties in settlements with Chinese contracting parties.