Russian and Chinese business leaders create a pool of new joint investment projects
Shanghai, September 25, 2019 - 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 today’s annual meeting of the Russian-Chinese Business Advisory Committee (the Committee) established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC).
The Committee provides a platform for collaboration between Russian and Chinese business leaders as part of the Intergovernmental Russian-Chinese Commission for Investment Cooperation (the Commission). It makes an important contribution to the development of business relations between companies from the two countries, supporting the implementation of investment projects in various sectors.
During the meeting, leading Russian and Chinese entrepreneurs discussed joint projects as part of several roundtables focussed on high technology, infrastructure, industry and other sectors.
To date, the Commission and the Committee are considering 70 projects for a total of over $110 bn. The Committee has already helped implement cross-border projects worth more than $10 bn, while RDIF and CIC have also invested through Russia-China Investment Fund (RCIF) in a number of projects independently. Such projects include Intergeo, a railway bridge in the Far East, a venture fund with Tus Holdings, RFP Group and others.
The Committee is coordinated by RDIF and CIC, the sovereign wealth funds of Russia and China respectively. In October 2011, RDIF and CIC established the Russia-China Investment Fund (RCIF) to stimulate bilateral investment and seek sustainable financial returns for investors with a reasonable risk profile. RCIF alongside RDIF and CIC plays a leading role in organizing and conducting the Committee’s activities, acting as an advisor on the identification and analysis of projects and arranging cooperation with the business community.
Anatoly Braverman, First Deputy CEO of the Russian Direct Investment Fund (RDIF), said:
“The business communities of Russia and China demonstrate a great interest in growing mutual investments and partnerships in many key sectors, such as high technology (including Artificial Intelligence), infrastructure, logistics, healthcare, and energy. We see additional opportunities through the involvement of our Chinese colleagues in the implementation of national projects in Russia, especially when considering their experience in the large-scale transformation of China’s economy, as well as the significant developments across their technology and infrastructure. China is our leading partner in the Asia-Pacific region and concerted efforts from the Committee have enabled us to significantly strengthen cooperation levels and to discuss new topics of interest and promising projects. We are grateful to our Chinese counterparts for their commitment to the work of the Committee and look forward to further strengthening our partnership and mutual investments.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru
Russia-China Investment Fund (RCIF) is a joint fund 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) was founded in 2007 as China’s sovereign wealth fund with a mandate to diversify China’s foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance. As a long-term financial investor, CIC invests on a commercial basis. 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 Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133