The financial ministries of Russia and China have signed a memorandum recognizing the equivalence of audit systems,  reported from TASS.

The document signing ceremony took place during the visit of Russian Finance Minister Anton Siluanov to Beijing.

Siluanov noted that this memorandum will allow synchronizing the legislation of Russia and China, as well as making work easier for entrepreneurs of the two countries.

The Chinese minister noted that the signing of the document "will provide institutional guarantees for the issuance of cross-border debt obligations by companies of the two countries.”

The meeting of the Russian and Chinese delegations led by Siluanov and Chinese Finance Minister Lan Foan lasted almost three hours.

The inter-ministerial meeting precedes the visit of Russian Prime Minister Mikhail Mishustin to China. The Russian prime minister will visit Beijing on December 19-20, where he will meet with Chinese President Xi Jinping and Premier of the State Council Li Qiang to hold the 28th regular meeting of the heads of government of Russia and China.

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