26.11.2010, 11:10 3591

China suggests to create SCO uniform bank

China has suggested creating a uniform bank of the Shanghai Cooperation Organization and using the national currencies. The Prime Minister of the State Council of the Peoples Republic of China, Wen Jinbao, stated in Dushanbe at the session of the Council of Prime Ministers of the SCO member states, the agency reports citing Central Asian information portal CA-NEWS.

Almaty. November 26. Kazakhstan Today - China has suggested creating a uniform bank of the Shanghai Cooperation Organization and using the national currencies. The Prime Minister of the State Council of the Peoples Republic of China, Wen Jinbao, stated in Dushanbe at the session of the Council of Prime Ministers of the SCO member states, the agency reports citing Central Asian information portal CA-NEWS.

"We need to create the SCO Development Bank and look for the new ways of joint capital investments and receiving benefits. It is necessary to carry out payment in the national currencies to make economic relations and trade in our region more active," Wen Jinbao said.

He also said we need to cooperate within the interbank association, to make contacts of bank structures of the SCO countries more active, and "to expand channels of commercial crediting in our region."

The Shanghai Cooperation Organization created in 2001 includes Kazakhstan, Kyrgyzstan, China, Russia, Tajikistan and Uzbekistan. Iran, India, Mongolia and Pakistan have the status of the SCO observers.

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