China refuses to join U.S., Europe in sanctioning Russia

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China refuses to join U.S., Europe in sanctioning Russia
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The chairman of China's bank regulator said, 'We will keep normal economic, trade and financial exchanges with all the relevant parties.'

Guo Shuqing, who serves as the chairman of the China Banking and Insurance Regulatory Commission, told a news conference Wednesday that China does not approve of the financial sanctions against Russia"because they don't have much legal basis and will not have good effects."

"We will not join such sanctions, and we will keep normal economic, trade and financial exchanges with all the relevant parties," Guo said.The Chinese government says it will not sanction Russia for its invasion of Ukraine, according to the country's banking regulator. Above, the chairman of the China Banking Regulatory Commission, Guo Shuqing, attends a news conference on October 19, 2017, in Beijing.

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