COMPARATIVE ANALYSIS OF THE STATE OF THE NATIONAL BANKING SYSTEMS OF RUSSIA AND CHINA IN MODERN CONDITIONS

This article provides a comparative analysis of the state of the national banking systems of Russia and China in 2020–2023. The key aspects of the functioning of banking systems are considered, the role of central banks in regulating monetary policy and their impact on the economy are determined. Particular attention is paid to differences in the scale of banking systems. It should be noted that the choice of China for conducting a comparative analysis is not accidental. The banking system of China, representing a complex and multilevel mechanism, plays a key role in the transformation and integration of the country’s economy into global financial processes. Over the past few decades, through comprehensive reforms, it has demonstrated its flexibility and ability to adapt to rapidly changing economic conditions. According to the results obtained during the study, it was revealed that, despite the challenges faced by the national economies of Russia and China during the analyzed period (the COVID-19 pandemic, economic sanctions, geopolitical tensions), their banking systems demonstrated high and steady profit growth rates (although its decline was observed in individual periods), assets, and bank lending volumes. At the same time, the Russian banking sector currently needs to develop and implement comprehensive measures aimed at strengthening it and ensuring financial stability and stability of the activities of credit institutions. As for the Chinese banks, they are currently facing many difficulties: reduction of the number of operating credit institutions, withdrawal to the shadow market, etc. However, the existing opportunities - leading positions in blockchain technologies, the creation of a state-owned cryptocurrency and the testing of a digital currency — inspire hope for progress in the banking sector. At the same time, it should be noted that the Chinese banks are actively increasing the volume of lending to the Russian banks: from February 2022 to March 2023, their share in the Russian banking sector increased by more than 4 times.