China’s banking and insurance regulator said on Wednesday that the country opposes and will not join financial sanctions against Russia. “Everyone is watching the recent military conflict, or war, between Russia and Ukraine,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said at a press conference in Mandarin.” The position of China has been stated clearly by the Ministry of Foregin Affairs. Guo Shuiqng added on Wednesday that he hopes all sides will maintain normal economic exchanges and that the sanctions have had no apparent impact on China so far. Will this cause problems? That is undetermined.