The timing of trading operations depends on the bank and the type of product and can be performed from two to fourteen days, according to business representatives. This may be caused by the policy of Chinese banks regarding the control of transactions. They ensure that the products are delivered exclusively to the same country where the payment was made.
Photo: ru.freepik.com
As the transfer time increases, the cost of logistics also increases. Representatives of the transport sector note an increase in costs by 10-15%. This is due to the fact that many firms cannot carry out transactions directly, as a result of which they are forced to additionally pay for the services of financial institutions and various intermediaries.
We have already told you that UAE banks have started blocking payments from Russia for Chinese equipment.
