Chinese Foreign Minister Qin Gang signals closer ties with Russia

Chinese Foreign Minister Qin Gang signaled closer ties with Russia on Tuesday, including reducing the use of the US dollar and euro in bilateral trade. The foreign minister claimed that US efforts to contain China would not succeed.

The External Affairs Minister addressed his first annual press conference during the Chinese Parliament session. During this, he said that China will protect its core interests and oppose hegemony, block politics and unilateral sanctions. 

Qin said that China and Russia were setting a good example for international relations and it was wrong to view their close bilateral ties from a Cold War perspective. He said that China has no alliance with the masks, no confrontation.

Don't make currency a trump card for unilateral sanctions - Qin Gang

Asked about reducing the use of the US dollar and euro in Sino-Russian trade, Qin said that China would use whatever currency is safe and reliable. "Currency should not be used as a trump card for unilateral sanctions," he said.

Yuan beats dollar in Russian market

Russian media reports said the Chinese yuan overtook the US dollar as the most traded currency on the Russian market for the first time last month. The yuan accounts for about 40 per cent of the trading volume, while the US dollar accounts for just over 38 per cent.

On the Ukraine war, Qin said that the Ukraine crisis is in essence an explosion of problems in the European security regime. "The Ukraine crisis is at a critical juncture and needs calm, reason and dialogue," he said.

America's attitude towards China 

Qin further said that containing and suppressing China would not make America great and would not stop China's rejuvenation. America's perception and views of China are seriously distorted. he said the resolution of the Taiwan question is a matter for the Chinese people and no other country should interfere in it.

He said that America talks about the sovereignty and independence of Ukraine, so why does it not respect the sovereignty of China. He said that Taiwan is an integral part of China. Addressing the Taiwan question, he said "the people of both countries are brothers and sisters."