Bank of Russia Employees are Urged to Learn Chinese

And today's news is just the right confirmation of my predictions. There is a large-scale, high-speed surrender of everything and everything to big brother China. From the broadcasting of Xi Jinping's sayings on Russia's main federal TV channel - in Chinese - to the direct order to everyone to learn Chinese. The Bank of Russia, which is cut off from the Western financial system, intends to teach its employees the Chinese language in order to interact professionally with partners from China. The Central Bank's request for educational services in the Chinese language "in the field of professional communications" appeared on the website of Sberbank AST, writes Kommersant, noting that the application was placed during the visit of President Xi Jinping of China to Russia. According to the project documentation, the Central Bank plans to teach the Chinese four groups of trainees numbering four to eight people annually. Training up to 32 people a year for the number of more than 45 thousand employees does not look large-scale, but it will have an annual regular character. Total employees of the Central Bank will pass 288 academic hours of the program, more than 70% of which will be for practical exercises. The regulator's staff will learn Chinese for its subsequent "use in business processes and professional communication in the field of international cooperation. According to HeadHunter, over the year the demand for employees with knowledge of the Chinese language in the financial sector in Russia has increased by 113%. According to calculations by Superjob, the number of vacancies, which imply knowledge of the Chinese language, has doubled over the year. Ingosstrakh-Invest has already announced the recruitment of employees with knowledge of the Chinese language, and Alfa Bank sees great prospects in developing relations with Chinese organizations. After the sanctions for the war in Ukraine were imposed, Russia has been gradually shifting its trade turnover to Chinese yuan. According to statistics from the Central Bank, the RMB accounts for about 16% of payments for Russian exports. In imports, the share of Chinese currency is 23%. This means that every month Russia receives $7 billion worth of yuan, of which $6 billion goes out of the country to pay for foreign goods, said Natalia Orlova, chief economist of Alfa Bank. The yuan's share in transactions of Russian business is also growing: it accounts for 37% of the trading turnover on the Moscow Stock Exchange against 36% of the dollar (as of January). By the end of 2023, the Chinese currency will become the main currency in Russia, a source close to the Kremlin told the Financial Times. Also, the Central Bank of Russia has already transferred a sixth part, or about $100 billion, of Russia's foreign exchange reserves into yuan. However, despite Russia's openness to China, Chinese partners are unwilling to work with Russian counterparts who have fallen under sanctions. "Chinese banks fully comply with all sanctions restrictions imposed by the U.S. Treasury," Mikhail Zadornov, former head of Otkritie State Bank, said in late December.