Friday, September 30, 2022
Home > WORLD > Russia and China to Enter Into a Hi-Tech Investment

Russia and China to Enter Into a Hi-Tech Investment

Russia-China Flag

The world’s largest nation Russia and the most populous country China are heading towards investing about $1.28 billion in the Russia-China Investment Fund (RCIF). Being established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation, have announced to launch the Russia-China Venture Fund (RCVF), as stated by RDIF.

The RDIF, describing the venture, stated: “The fund has already studied more than 100 potential projects, of which it is currently considering five in detail – in such areas as new materials, information protection technologies, virtual reality, the development of new generation industrial equipment, innovative oilfield services. The fund plans to announce the first deal by the end of the year.”

On Tuesday, RDIF announced to invest in traffic infrastructure in Russian Khabarovsk region along with China’s Shandong Hi-Speed Group. The investments involved is basically for two projects – $100 million investment for building a Sino-Russian high-tech innovation park and a Russia-China venture fund with the capital of $100 million.

RDIF also contributed that the leading Russian and Chinese companies will skyrocket bilateral investment. It said, “Today there are 73 projects with a total worth of over $100 billion in industrial, infrastructural, mining, agricultural and other sectors. Thanks to the work of the committee, seven projects worth $4.6 billion have already been implemented.”