RCIF and Tus-Holdings expand comprehensive cooperation in the technology & innovation sector
Press release, 11.09.2018
Vladivostok, September 11, 2018 − The Russia-China Investment Fund and Tus-Holdings, a leading Chinese innovation-focused enterprise, supported by Tsinghua University, are expanding their comprehensive cooperation in the technology and innovation sector. Corresponding agreements were signed today during the annual meeting of the Russian-Chinese Business Advisory Committee, which was held today on the sidelines of the Eastern Economic Forum.
Investments in the Tushino project
As one of the most successful constructors of scientific and technology parks in China, Tus-Holdings has sought the opportunities to invest in and construct scientific and technology parks in Russia. Within the RCIF partnership framework Tus-Holdings joins the consortium formed by RDIF and RCIF to invest in creating a scientific and technology park as well as associated development of the former Tushino airfield in the north-west of Moscow. Total investment will exceed 90 billion rubles. The sovereign wealth fund of the Kingdom of Saudi Arabia, the Public Investment Fund (PIF), Mubadala Investment Company, the Abu Dhabi-based investment and development company, the Chinese Silk Road Fund, the "Vi Holding" corporation and other leading international investors are also participating in the construction of the technology park. The project will create an advanced multifunctional technology park, which will include the largest innovation center in Russia, as well as sports, public, scientific, educational, residential and recreational facilities.
Construction of Sino-Russian high-tech Innovation Park
RCIF and Tus-Holdings are considering an implementation of another related project to build Sino-Russian high-tech innovation park on the land of the Skolkovo Innovation Center. The park aims to attract leading Chinese and Russian high-tech companies as tenants. The project is for a multifunctional center covering an area of more than 70 thousand square meters. The investment totals more than $100 million. Tus-Holdings is considering the possibility to create a network of innovation facilities in Russia by building new technology parks in other areas of the country.
Launch of the Russia-China Venture Fund
RCIF and Tus-Holdings announced the launch of the Russia-China Venture Fund. The new fund will focus on investment opportunities in high-technology sectors of the Russian economy, with strong potential for development into the Chinese market. In accordance with earlier agreements, the Russia-China Venture Fund Phase I will manage capital of $100 million. The fund has already reviewed more than one hundred potential investment opportunities and is currently considering five promising investment projects in the following sectors: new materials, information security technologies, virtual reality, next-generation industrial equipment, and innovative oil and gas services. The fund plans to announce the first deal before the end of the year.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF) and Co-CEO of the Russia-China Investment Fund (RCIF), noted:
"We are pleased to note the great progress demonstrated by the partnership between RCIF and Tus-Holdings. Joint Russian-Chinese investments in venture projects are not only attractive from the point of view of profitability, but also promote scientific and technical cooperation between Russia and China. Together with partners from China, we will be able to achieve breakthroughs in the area of advanced technologies and facilitate their early implementation."
Bing Hu, Co-CEO and President of the Russia-China Investment Fund (RCIF), said:
"The comprehensive partnership between RCIF and TUS further demonstrates the great potential of cooperation between China and Russia in technology and innovation area. We look forward to a notable return it would give to both parties."
Jiwu Wang, Chairman of Tus-Holdings Co., Ltd., said:
"The official launch of the Russia-China Venture Fund (the “RCVF”) is the most active reaction to the expectations of the leaders of both countries, it is also an illustration of the high expectations given by the government, economic circles, scientific and technological circles, and innovation circles of both countries. We will develop this fund as a bridge for cooperation between China and Russia in the sector of scientific and technological innovation. I also hereby announce with pleasure that there have been a dozen of potential investment institutions or investors engaged with the China-Russia cooperation team under TUS Holdings, and they express they are willing to proactively participate in the future investments of RCVF and be Phase II and III investors of RCVF Fund.
The establishment of RCVF is only a part of the whole innovation system intended to be built up by Tus-Holdings in Russia. The “Science Center” project developed by TUS in Tushino and other innovation center projects to be developed by TUS at Skolkovo and other locations are all indispensable parts of such system. In the future, we will deepen the construction of the innovation system and further extend to other areas; such projects are relying upon each other and supporting each other to make up the big family of TUS Sino-Russia scientific and technology parks. The innovation businesses engaged in by Tus-Holdings in Russia are not common in Chinese enterprises. I believe Tus-Holdings is the only company who may accomplish such goal. This undoubtedly benefits from the support of numerous Russian partners. "
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 development of bilateral economic, trade and investment relations between Russia and China. Further information can be found at www.rcif.com
Tus-Holdings Co., Ltd., set up on July 24,2000, is the former Tsinghua University Science Park (TusPark) Development Center founded in August 1994. Tus-Holdings is a large integrated enterprise established in reliance on Tsinghua University. It takes full responsibility for developing, constructing, operating and managing TusPark. It is the controlling shareholder or shareholder of over 800 listed & non-listed enterprises, including Tus-Guhan Group Co., Ltd., Tus-Sound Environmental Resources Co., Ltd, 21Vianet Group, Inc., ChineseAll，TUS International Limited，SZ Hanbang Technology Co.,Ltd, Gigadevice, Guangzhou TuWei Technology Co.,Ltd，CICTE，BIOREM and Tus-Design Group. And the total assets under its management have exceeded RMB 200 billion. As the flagship product of Tus-Holdings, TusPark(Beijing) is currently the largest single university science park in the world, with building area of 770,000 square meters, and more than 1500 enterprises having been settled in the park. TusPark has become a gathering place for multi-national corporation R&D headquarters, China technology enterprise headquarters as well as innovation enterprises. It has become a famous brand in China and even in the global science park industry. Further information can be found at http://en.tusholdings.com/
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
Tus S&T Service Group
Tel.: +86 10 5762 9000