China, Russia Plan USD11.3 Billion Development Investment Fund, Chinese Vice Premier Says
Tang Shihua
/SOURCE : Yicai
China, Russia Plan USD11.3 Billion Development Investment Fund, Chinese Vice Premier Says

(Yicai Global) Sept. 8 -- China is preparing to establish a CNY100-billion (USD11.3-billion) cooperative development investment fund with Russia, State Council Vice Premier Wang Yang said at the third Eastern Economic Forum held in Vladivostok on Sept. 7.

While not disclosing any specific details of the fund, Wang said China is willing to further expand the scale of the China-Russia investment fund and boost the Silk Road fund to provide financing for collaborative projects.

China is encouraging prominent enterprises to invest in the Far East region, and expand cooperation in the processing, manufacturing, resource development, infrastructure, agriculture, and tourism sectors.

The nation is the main foreign source of funds for the Russian Far East, with a total of USD3 billion invested in 26 projects so far.

China requires domestic enterprises to operate legally in Russia, and encourages Russia to provide preferential policies, well-developed infrastructure and rights protection, Wang added.

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Keywords: BELT AND ROAD , RUSSIA , Investment Fund