London, 20 December 2010

China’s currency has been spotlighted by the United States who argue that the Yuan’s “suppression” is hindering a global economic recovery while boosting China’s export revenue. After a 1 million Yuan transaction between the Industrial and Commercial Bank of China Ltd. and Bank of China Ltd., though, China now encourages the Yuan trading against Russia’s Ruble – a move that will allow for larger overseas trade and business and less reliance on the US dollar.

“The lateral trade channel between Russia and China examples an economic relationship that will benefit both countries,” said Benjamin Wey, a US-China business and trade relations expert.

Wey is a Wall Street expert on China and US - China trade relations. He is the current President of New York Global Group (NYGG), one of the largest Wall Street middle market advisory firms specialized in China related transactions in the areas of corporate finance, private equity investments, China due diligence and strategic consulting. Ben overseas operations in both China and the US as the President of New York Global Group, a US-China investment firm located in Beijing and New York.

“The exchange also indicates the strengthening of the Chinese economy and its currency – internationalizing currency is a trend that will only continue, not cease.”

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