RDIF to participate in the Russian President’s visit to China
Press release, 19.05.2014
Moscow, May 19, 2014 - CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, will take part in the Russian President’s working visit to Shanghai, China, on May 20th. During the visit, Russian delegates will sign agreements between the Russia-China Investment Fund (RCIF) and Chinese partners from industries such as tourism, logistics, infrastructure and mining. Agreements aimed at strengthening investment cooperation between Russia and China through RCIF will also be signed.
During the visit to China, RDIF is holding meetings in Shanghai and Hong Kong for Russian business representatives and leading Chinese institutional and strategic investors. On May 19th, the delegation will visit a roundtable in Hong Kong attended by the largest investment funds in China. On May 20th, a Russian-Chinese business breakfast has been organized by RCIF, bringing together 50 top CEOs of leading Russian and Chinese companies to discuss joint investment partnerships.
Kirill Dmitriev, CEO of Russian Direct Investment Fund, said:
"China is Russia’s largest trading partner and an important partner of RDIF. In 2013, with China's sovereign wealth fund, China Investment Corporation, we formed a Russian-Chinese investment fund, which is now the key co-investment platform for Russia and China. RCIF is actively working on projects that will contribute to strengthening cooperation between our two countries, and RCIF’s total investment will soon reach $1 billion."
Hu Bing, Co-CEO of Russia-China Investment Fund, said:
“We see plenty of investment opportunities in Russia’s agriculture, tourism, infrastructure, mining, retail sectors as well as significant potential to get expertise and raise capital from the leading Chinese investors.”
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Russia-China Investment Fund (RCIF) is a private equity fund investing in unique opportunities brought out by rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF emphasizes cross-border transactions, as well as investment opportunities within the region across a broad range of sectors to facilitate the structural adjustment and the improvement of quality of those countries’ economies. Further information at www.rcif.com
Russian Direct Investment Fund (RDIF) was 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. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru
China Investment Corporation (CIC) - Headquartered in Beijing, China Investment Corporation was founded on September 29th 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 shareholders under an acceptable risk profile. Further information at www.china-inv.cn
Russian Direct Investment Fund
Director, Media Relations Department
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Andrew Hayes / Maria Ignatova / Elena Kuza