Sportmaster wants to make transactions with suppliers in their national currency

Group of companies “Sportmaster” could become the first Russian company to make transactions with suppliers in their national currency. The Retail chain wants to test this program with China’s partners, as mostly part of the sports good are produced in China. The adaptation of this system, and in particular of the yuan, will let the retailer and its suppliers to reduce the costs linked with the currency convention and fluctuations. However, so far Sportmaster couldn't start this project cause a lack of trust from the Chinese banks. Sportmaster buys goods from China for an amount of around $ 100 mln. per year and wants to increase this value of 3 times within the next 3 years.

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