Beijing Ready to Increase Size of Russian-Chinese Investment Fund
Sputnik/ Alexander KryazhevBusiness04:38 07.09.2017Get short URL
China’s vice premier Wang Yang said that China is ready to increase the amount of money stored in an investment fund it runs together with a Russian state-backed wealth fund.
VLADIVOSTOK (Sputnik) — China is ready to increase the amount of money stored in an investment fund it runs together with a Russian state-backed wealth fund, China’s vice premier Wang Yang said Thursday.
Both countries contributed each $1 billion after the fund was created in 2012.
“We are ready to increase the volume of the Russia-China Investment Fund and promote financing of joint projects with money from the Silk Road Fund,” Wang said at the Eastern Economic Forum in Vladivostok, Russia.
RCIF is controlled by the China Investment Corporation (CIC) and the Russian Direct Investment Fund. Wang said Beijing was interested in boosting cooperation across different spheres, including logistics, sanitary controls, and customs to create conditions for trade and investment.