RE: Ft articles26 May 2020 16:41
RDIF: Russia and China discuss 70 projects for 112 billion dollars
11:19, November 26, 2019
© RIA Novosti / Alexey Nikolsky
BEIJING, Nov 26 - RIA Novosti. The Russian-Chinese Intergovernmental Commission on Investment Cooperation and the Russian-Chinese Advisory Committee of Entrepreneurs are considering 70 projects totaling $ 112 billion, the Russian Direct Investment Fund (RDIF) said in a statement.
On Tuesday, a delegation of the RDIF and the Russian-Chinese Investment Fund (RCIF, established by the RDIF and China Investment Corporation, CIC) took part in the 6th annual meeting of the Russian-Chinese intergovernmental commission on investment cooperation. From the Russian side, the commission is headed by First Deputy Prime Minister - Minister of Finance Anton Siluanov, from the Chinese side - by the Deputy Prime Minister of the State Council of China Han Zheng.
Russian Ministry of Foreign Affairs spokeswoman Maria Zakharova called the relations of Russia and China an example for other states
"During the meeting, members of the commission discussed investment and trade and economic cooperation. To date, the commission and the Russian-Chinese consultative committee of entrepreneurs created within its framework have 70 projects totaling $ 112 billion," the report said.
In total, thanks to the work of the committee, cross-border projects worth more than $ 10 billion have been implemented, while RDIF and CIC have independently invested in a number of projects through RCIF.
The committee has a project office function with teams in Russia and China who collect and systematize information on projects, analyze it, provide recommendations for including / excluding projects, recommendations for removing barriers to projects in Russia and China, and also uses the competencies of RDIF, CIC and RKIF both in the field of direct investments and project financing to promote Commission projects and attract financing.
Interstate relations between Russia and China
Following the meeting of the intergovernmental commission, the parties approved additional priority investment projects of the RDIF for inclusion in the commission list. Among them are the creation of the largest player in Russia in the field of electronic commerce through a partnership between RDIF, Alibaba Group, Mail.ru Group and Megafon, the creation of the Russian-Chinese scientific and technological innovation fund, the Russian-Chinese regional cooperation funds, the construction of a mining and processing plant at base of Kingashskoye and Verkhnekingashskoye deposits.
The Intergeo deposits are among the five largest in Russia in terms of copper reserves.