Leading Russian and Chinese companies to increase mutual investments
Vladivostok, September 11, 2018 − More than 150 representatives of leading Russian and Chinese companies discussed the development of bilateral trade and economic and investment cooperation between Russia and China at the annual meeting of the Russian-Chinese Business Advisory Committee (Committee) , which was held today on the sidelines of the Eastern Economic Forum.
The Committee is currently considering 73 projects totaling more than $100 billion in industrial production, infrastructure, mining and mineral processing, agriculture, etc. Due to the work of the Committee, 7 projects worth a total of $4,6 billion have already been implemented.
The Committee is a mechanism for cooperation between Russian and Chinese business owners involved in the Intergovernmental Russian-Chinese Commission for Investment Cooperation. The Committee makes a significant contribution to the development of business relations between Russian and Chinese companies, facilitating investment projects across various sectors.
From the Russian side, the Committee is headed by Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), from the Chinese side – by Tu Guangshao, Vice Chairman and President of China Investment Corporation (CIC). In October 2011, RDIF and CIC established the Russia-China Investment Fund (RCIF). RCIF activity aims to promote bilateral trade, economic and investment cooperation between Russia and China. Together with RDIF and CIC, RCIF plays a major role in the Committee screening potential projects and acting as a mediator between the business representatives of both countries.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF) and Co-CEO of the Russia-China Investment Fund (RCIF), noted:
"While strong economic growth in both countries will certainly produce many domestic opportunities for profitable investments, we believe particularly promising transactions will be found in bilateral deals that capitalize on the Russia-China relationship. We look forward to realizing the huge potential for mutually beneficial growth in sectors such as infrastructure, logistics, food and agriculture, natural resources, financial services, and consumer goods and services."
Bing Hu, Co-CEO and President of the Russia-China Investment Fund (RCIF), said:
"As the fourth time this year the Russia-China Business Advisory Committee Meeting has been held, the previous ones have achieved remarkable results. The close cooperation between China and Russia has enable both sides to make substantial progress in various fields. RCIF will continue to play the role of a bridge between the two countries and help China and Russia achieve more mutually beneficial growth in key areas. Hereby, I wish this meeting a complete success."
Russia-China Investment Fund (RCIF) is a joint fund, established by the Russian Direct Investment Fund and China Investment Corporation (CIC). The activity of RCIF is aimed at the development of bilateral economic, trade and investment relations between Russia and China. Further information can be found at www.rcif.com
China Investment Corporation (CIC) - headquartered in Beijing, China Investment Corporation was founded on September 29, 2007, as a wholly state-owned company incorporated in accordance with China’s Company Law. The company was established as a vehicle to diversify China’s foreign exchange holdings and achieve higher risk-adjusted returns on its investments in the context of China’s macroeconomic requirements and further reform of its financial system. CIC invests on a commercial basis and its underlying investment objective is to seek long-term, sustainable, and high financial returns for its shareholder under an acceptable risk profile. Further information can be found at www.china-inv.cn
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133
Russia-China Investment Fund
Tel.: +86 10 5762 9000
Fax: +86 10 57629111
Yury S. Trofimov
Russia-China Investment Fund
Tel.: +7 (495) 230-05-55 ext. 4243
Mob.: +7 (985) 765-13-12