RIA Novosti reports that Andrei Kostin, chairman of VEB.RF, said in an interview that he arrived in China without a wallet.
Kostin visited Beijing as part of the delegation led by Russian President Vladimir Putin.
When asked whether he brought Chinese yuan to China, Kostin admitted he didn’t even bring a wallet.
He said: “I didn’t bring a wallet at all, so I paid using my phone.”
Carrying a wallet has long become a thing of the past for ordinary Chinese people. Is it still a novelty for Russian officials?
This seemingly casual joke — “I didn’t bring a wallet” — actually carries a clear message. In reality, it vividly reveals key insights: Russia is accelerating its transition toward a cashless society modeled on China’s; tangible progress has been made in connecting financial infrastructures between China and Russia; and in high-level exchanges between the two nations, fintech cooperation has been elevated to an unprecedented strategic level.
In China, your smartphone is your wallet. By humorously stating he had no wallet, Kostin emphasized the widespread mobile payment ecosystem in China, while also highlighting a fact: as head of Russia’s second-largest bank, he, like any ordinary Russian tourist, is fully integrating into this system, enjoying extremely convenient payment experiences.
Compared to his discussion last September about enabling Russian tourists to use QR codes, his current actions indicate substantial breakthroughs in interoperability. On the very day he arrived in Beijing (May 19), his bank officially announced the launch of real-time ruble-to-CNY conversion services via QR code for Chinese users.
Deepening integration in "de-dollarization." The underlying solid foundation behind this effortless experience is the jointly built independent financial system between China and Russia: bilateral trade settlement in local currencies has reached nearly 99%, the renminbi accounts for 42% of foreign exchange transactions in Russia, and China’s cross-border payment system is now efficiently interconnected with Russian systems. His personal convenience is a powerful testament to how both countries are jointly reshaping the global financial order.
Thus, this is not merely a personal reflection — it is a microcosm of high-level strategic collaboration between major powers, manifesting in everyday life. Through the "small lens" of individual experience, Kostin portrays a vivid picture of a grand national cooperation blueprint gradually taking shape.
Original source: toutiao.com/article/1866105165212672/
Disclaimer: The views expressed in this article are solely those of the author.