RDIF and RCIF participate in the meeting of Intergovernmental Russian-Chinese Commission for Investment Cooperation
Moscow, November 26, 2021 – Representatives of the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Russia-China Investment Fund (RCIF) have participated in the eighth meeting of the Intergovernmental Russian-Chinese Commission for Investment Cooperation (the “Commission”).
On the Russian side, the Commission is headed by the First Deputy Prime Minister Andrey Belousov, while the Chinese side is led by Mr. Han Zheng, Vice-premier of the People’s Republic of China.
Over the course of the meeting, the Commission members discussed the investment, trade and economic cooperation. The participants were also focused on joint efforts in the fight against coronavirus, including production and commercialization of the Russian Sputnik V and Sputnik Light vaccines in China and international markets.
Capital increase of RCIF was also a part of the discussion during the meeting. This step had been agreed earlier by leaders of Russia and China.
The Commission and the Russian-Chinese Business Advisory Committee (the “Committee”) are currently considering 65 projects of over $100 bn in total value.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
“The Commission is an important part of a wider Russia-China cooperation providing for discussions around major investment areas and promising projects. The coronavirus pandemic, which is still on the top of the global agenda, could not stop the Commission's activities and led to more active partnership between Russia and China in terms of production and commercialization of the Russian Sputnik V vaccine.
RDIF and RCIF will continue exploring new investment opportunities with partners in China for the good of our countries going forward”.
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 80 projects with foreign partners totaling RUB 2.1tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 1 million people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at 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:
Russian Direct Investment Fund
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Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133