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RDIF agrees on strengthening investment co-operation with Chinese partners

Beijing, September 9, 2014 - The CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev took part in the first meeting of the Intergovernmental Russia-China Commission for Investment.

The meeting took place in Beijing and was chaired by First Deputy Prime Minister of the Russian Federation Igor Shuvalov and Vice-Premier of the State Council of the People’s republic of China Zhang Gaoli Also in attendance were officials of the Russian and Chinese governments and representative heads of leading companies from both countries.

At the end of the meeting Kirill Dmitriev was appointed Chairman of the Russian side of the Commission’s Consultative Committee of Entrepreneurs. On the Chinese side, this post was taken by Chairman and CEO of China Investment Corporation (CIC) Ding Xuedong.

At the meeting, the parties discussed the importance of further promoting investment co-operation between Russia and China through strengthening collaboration in such spheres as the transport infrastructure, agriculture, mining, aluminium, forestry, chemical and petrochemical industries, production of machinery and equipment, construction, light industry, information technology and telecommunications, and innovative technology production.

The members of the Commission also recognised the role of the Russia-China Investment Fund (RCIF), set up by the RDIF and the CIC, as a consultant on projects considered by the Commission and on the collaboration between the Commission and the business community.

The parties stressed the need for consistent improvement of the investment climate in the two countries and support for collaborative investment initiatives between businesses in Russia and China.

The RCIF will continue financing income-generating projects in key sectors of the economies and will announce a number of new investments in the near future.

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. / RDIF