Category: Translation

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Financial news: Bank of Russia to supervise installment service operators

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Laws The State Duma adopted a resolution on requirements for installment service operators and contracts with them.

Now sellers and installment service operators (intermediaries between the seller and the buyer) will not be able to disguise interest on deferred payments by setting different prices for goods in installments and for cash. The amount of fines that installment service operators can collect from users is also limited.

In addition, if the citizen’s installment obligations exceed 50 thousand rubles, the service operator will be obliged transfer this information to the credit bureau. This will help banks and microfinance organizations assess the level of a person's debt burden when applying for a loan or credit. Thus, citizens will be better protected from debt overload and default risks.

Legislators also gradually limited the maximum period of interest-free installments: from April 1, 2026 – 6 months, from April 1, 2028 – 4 months.

The changes will come into force on April 1, 2026.

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Financial News: Partner Financing Experiment Extended Until September 2028

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Law, which extends the experiment in partnership financing, also provides for the improvement of its mechanisms. The law was adopted by the State Duma and approved by the Federation Council.

The experiment will be carried out from September 1, 2023, on the territory of Bashkortostan, Dagestan, Tatarstan and the Chechen Republic. It was initially announced for two years.

The law expands the list of partnership financing operations, including opening accounts by banks that have the appropriate license. The list of operations also includes mutual insurance.

A special committee will be created to approve standards for partner funding. Companies should indicate in their advertising that they are participants in the experiment.

In addition, the list of grounds for refusing to include organizations in the register of experiment participants is being expanded, as well as the list of grounds for exclusion from it. This will reduce the risks of unscrupulous companies participating in the experiment.

The purpose of the law is to create a more correct and uniform provision of partnership financing services, to increase the transparency and attractiveness of the experiment, including for foreign investors.

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Financial news: The Russian market has launched an index of benchmark stock issuers

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

"Companies from the financial and non-financial sectors were among the applicants for inclusion in the Program," notes Ekaterina Abasheeva, Director of the Bank of Russia's Corporate Relations Department. "Following the review of applications, several issuers demonstrating the necessary institutional quality were selected. We hope that they will grow into a new generation of blue chips — companies that adhere to high standards of corporate governance and are interested in increasing their investment attractiveness. Together with the Moscow Exchange, we will continue to work on forming a pool of high-quality issuers participating in the Program."

The decision to include shares in the index is made by a committee, which includes representatives of the Bank of Russia, Moscow Exchange, and the Analytical Credit Rating Agency. The committee evaluates corporate governance, the level of information transparency of the issuer, and its financial and economic indicators. The status of a participant in the Program must be confirmed at least once a year. Issuers whose shares are included in the first or second level of the Moscow Exchange listing can participate in it.

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Financial news: On July 25 at 15:00 a press conference will be held on the results of the meeting of the Board of Directors on monetary policy

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The event will be attended by the Chairman of the Bank of Russia Elvira Nabiullina and the Deputy Chairman of the Bank of Russia Alexey Zabotkin.

Elvira Nabiullina will make a statement on monetary policy and medium-term forecast.

The press conference will be held at the Bank of Russia press center. The broadcast of the speech will be available on our website, channel inTelegram, as well as on the official page in"VKontakte".

Accreditation for journalists is open until 17:00 on July 23 at the address Media@kbr.ru.

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Tatyana Golikova held a meeting of the Russian Tripartite Commission for the Regulation of Social and Labor Relations

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Deputy Prime Minister Tatyana Golikova held the next meeting of the Russian Tripartite Commission for the Regulation of Social and Labor Relations.

The meeting considered and supported by the parties the draft federal law "On Amendments to the Labor Code of the Russian Federation", developed on the instructions of the President of Russia Vladimir Putin with the aim of improving the provisions governing the apprenticeship contract. Thus, it was proposed to supplement Chapter 32 of the Labor Code with provisions specifying the status of apprenticeship contracts, the obligations of the parties, as well as the types of programs mastered during the apprenticeship period. In addition, it was proposed to include individual entrepreneurs in the circle of persons who are allowed to conclude apprenticeship contracts. For the apprentice, the bill provides for guarantees of employment, as well as the payment of a scholarship at the expense of the employer for the entire period of training. The employer, in turn, will be able to return the funds spent on training in cases where the apprentice has not fulfilled the obligations specified in the contract. In addition, the bill provides for a mechanism for co-financing the costs of employers at the expense of the budgets of the constituent entities of the Russian Federation. It is expected that the expansion of the practice of using apprenticeship contracts will become an effective mechanism for training qualified personnel, which will help solve the problem of staffing, and will also become a social lift for workers, as it will open up prospects for successful employment, career growth and increased wages.

The commission members also discussed and supported the draft federal law "On Amending Article 1 of the Federal Law "On the Minimum Wage", according to which, from January 1, 2026, the minimum wage will increase by 20.7% and will amount to 27,093 rubles. The adoption of the bill will lead to an increase in wages for about 4.6 million workers.

In addition, the members of the RTC were presented with reports on the activities of two regional tripartite commissions for the regulation of social and labor relations – the Leningrad Region and the Republic of Dagestan.

Other issues were also considered at the meeting. Among them:

draft federal laws "On Amendments to Certain Legislative Acts of the Russian Federation (in terms of optimizing the mechanism for the implementation by certain categories of citizens of the rights to receive social protection measures (support), state social assistance provided at the expense of the constituent entities of the Russian Federation, as well as improving the activities of the Pension and Social Insurance Fund of the Russian Federation)" and "On Amendments to Article 138⁶ of the Budget Code of the Russian Federation";

draft federal law “On the expected period of payment of funded pensions for 2026”;

draft federal law “On Amendments to Article 69 of the Federal Law “On the Fundamentals of Health Protection of Citizens in the Russian Federation” and the Federal Law “On Education in the Russian Federation”;

draft resolution of the Government of the Russian Federation "On Amendments to the Resolution of the Government of the Russian Federation of March 30, 2022 No. 511";

draft resolution of the Government of the Russian Federation "On the transfer of days off in 2026".

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Financial News: How to Inform Investors About Complex Financial Products

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Information about such products should be placed in special sections of websites and mobile applications. It will be available to the user after he confirms the status of a qualified investor and becomes familiar with the risks of these instruments.

The recommendations are aimed at reducing the likelihood of unqualified investors being forced to buy complex financial instruments that could result in losses.

Let us recall that, according to the law, financial market participants are prohibited from offering a number of complex financial products to unqualified investors.

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Hong Kong SAR, Vanuatu officials discuss strengthening business and trade exchanges

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

HONG KONG, July 25 (Xinhua) — Hong Kong Special Administrative Region (SAR) Chief Executive Lee Jiachao met with Vanuatu Deputy Prime Minister and Minister of Finance and Economic Management Johnny Koanapo Rasu here on Friday.

Welcoming the visit of J. Koanapo Rasu and his delegation to Hong Kong to participate in trade and economic cooperation activities, Li Jiachao said the SAR invites Vanuatu enterprises to leverage the city's role as a "super-connector" and "super-value-added creator" to explore overseas markets and China's hinterland, and expand trade and business exchanges between the two sides.

Li Jiachao stressed that Hong Kong is currently making full use of its advantage as a link between China's interior and the rest of the world under the policy of "one country, two systems" and actively deepening international exchanges and cooperation.

The SAR chief executive also noted that in addition to strengthening development in traditional markets, Hong Kong will continue to explore emerging markets around the world, such as those in the Belt and Road Initiative countries, and expand trade and economic ties with countries in the Global South, including Vanuatu. –0–

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Member of the Politburo of the CPC Central Committee met with the Spanish delegation

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

BEIJING, July 25 (Xinhua) — Yin Li, a member of the Political Bureau of the Communist Party of China Central Committee, met with a delegation led by Catalan regional government head Salvador Illa in Beijing on Friday.

Yin Li, also secretary of the CPC Beijing Municipal Committee, recalled that this year marks the 20th anniversary of the establishment of the comprehensive strategic partnership between China and Spain.

According to him, China is willing to work with Spain to implement the important consensus reached by the leaders of the two countries, deepen inter-party exchanges and inter-regional cooperation, promote the continuous deepening and practical implementation of cooperation in various fields, and promote the development of China-Spain and China-EU relations.

S. Ilya, for his part, stated that Spain is ready to expand exchanges and dialogue with China, deepen cooperation in such areas as inter-party relations, inter-regional contacts, economics and trade, culture, science and technology, in order to bring more benefits to the peoples of both countries. –0–

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China Promotes Preservation of World Cultural Heritage Through Cooperation: Think Tank Report

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

ZHENGZHOU, July 25 (Xinhua) — China is playing an increasingly active role in preserving world cultural heritage, promoting cooperation among civilizations, according to a report released Friday by the Xinhua Institute, a think tank affiliated with the Xinhua News Agency.

The report, entitled “Jointly Protecting the Treasures of Human Civilization: China’s Concept and Practice of Cultural Heritage Preservation in the New Era,” provides a detailed explanation of China’s efforts to protect and transmit cultural heritage.

As a key area, the authors highlight China's efforts to build cross-border partnerships and promote global heritage conservation activities, including projects to assist countries participating in the Belt and Road Initiative, such as Cambodia, Nepal, Myanmar and Uzbekistan.

According to the report, China has also launched a number of regional cooperation initiatives, including the Asian Cultural Heritage Preservation Initiative and the Asian Alliance for Cultural Heritage Preservation, which have received positive feedback and brought together the joint efforts of all parties in the Asian region.

In addition, the document notes that China has built a global community for the protection of cultural heritage through cooperation in implementing relevant conventions, sharing technologies, training talented professionals, responding to challenges, and mutually beneficial development. –0–

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170 companies from all over the world participated in all eight CIIEs

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

SHANGHAI, July 25 (Xinhua) — A total of 170 overseas companies and 27 institutions have joined the eight China International Import Expos (CIIE), the organizer of the expo announced at a press conference on Friday.

According to the organizer, more than 50 countries and international organizations have confirmed their participation in the national comprehensive exhibition, which will be held within the framework of the upcoming 8th CIIE this year. Sweden, the UAE and other countries will act as honorary guest countries, and Kyrgyzstan will participate for the first time.

This year, the volume of reserved exhibition space for the CIIE commercial exposition has exceeded 330,000 square meters, the organizer added.

As CIIE Deputy Bureau Director Wu Zhengping noted, companies from Canada, Malaysia, New Zealand, Norway, Peru and other countries set a record in participation, which clearly demonstrates their confidence in the Chinese economy and enthusiasm for the CIIE.

This year, CIIE will for the first time include a special zone for products from participating least developed countries. The expo will also expand and upgrade the existing African products zone and launch a “cross-border e-commerce product selection platform” to help overseas SMEs successfully enter the Chinese market. –0–

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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