RDIF participates in meeting of Intergovernmental Russian-Chinese Commission for Investment Cooperation

Press release, 26.11.2019

Beijing, November 26, 2019 – A delegation from the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Russia-China Investment Fund (RCIF), a private equity fund established by RDIF and China Investment Corporation (CIC), participated in the 6th meeting of the Intergovernmental Russian-Chinese Commission for Investment Cooperation in Beijing today.

On the Russian side, the Commission is headed by the First Deputy Prime Minister and Minister of Finance of the Russian Federation, Anton Siluanov, while the Chinese side is led by Vice-premier of the People’s Republic of China, Han Zheng.

Over the course of the meeting, the Commission’s members discussed investment, trade and economic cooperation. To date, the Commission and the Russian-Chinese Business Advisory Committee (Committee, co-chaired by RDIF and CIC) are considering 70 projects for a total of $112 bn. The Committee has already helped implement cross-border projects worth more than $10 bn. RDIF and CIC have also invested through RCIF in a number of projects independently.

The Committee acts as a project office with teams based in Russia and China. They collect and systematize information on projects, analyze it and provide recommendations for including or excluding projects for consideration, as well as guidelines for eliminating barriers for project implementation in Russia and China. The Committee also relies on the expertise of RDIF, CIC and RCIF both in direct investments and project financing to promote the Commission’s projects and raise financing.

The parties have approved a list of additional RDIF investment projects for inclusion in the Commission list as a priority, which included the:

  • Creation of a Russian e-commerce leader as part of a partnership between RDIF, Alibaba Group, Mail.ru Group and Megafon.
  • Creation of a Russia-China Technology Investment Fund.
  • Creation of Russia-China regional cooperation funds.
  • Construction of a mining and processing plant located near the Kingash and Verkhnekingash deposits, as part of Intergeo - whose deposits are among the five largest in Russia in terms of copper reserves. The plans are to attract China Gold company as a strategic partner.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

“These regular meetings with our Chinese partners as part of the Commission's activities enable discussions around the most relevant investment areas of investment cooperation and promising projects. Active conversations through the Commission create new opportunities to development of business ties and the strengthening of our trade, economic and technological exchanges in the interests of both our nations”.

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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 private equity fund aimed to generate competitive returns by investing in projects that advance bilateral economic cooperation between Russia and China. Further information can be found at www.rcif.com

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund

Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler

Tel: +44 (0) 20 7796 4133