Transactional channels for transfer of financial information and payments in Russia and China: development issues

Some issues of the evolution of the national payment systems of the Russian Federation and the People’s Republic of China from the standpoint of the ability of these elements of the financial system to counteract the global negative impacts to provide conditions in domestic markets for the uninterrupted and efficient redistribution of financial resources and the functioning of the financial infrastructure are studied in the article. The features, targets and significance for the development of national economies of the Chinese cross-border interbank payment system (CIPS) and the Russian financial messaging system (SPFS) are revealed. The study includes an analysis of the external and internal potential of domestic systems for transmitting information and making payments. Based on the factors and risks of the modern development of the payment systems of Russia and China, possible directions for the mutually beneficial integration of the Russian and Chinese payment infrastructure are determined, taking into account the need to strengthen the role of national currencies in global and mutual settlements, digitalization processes of national payment systems.