Russia and China set up joint investment fund

Russia and China signed an agreement on Friday to set up a new investment fund to start with 1.5 billion yuan ($ 234 million) under management to support financial and industrial projects in both countries.

The agreement was signed by the Russian-Chinese Investment Fund and Suyong Capital

The fund aims to reach capital of five billion yuan.

"The Fund will engage in strategic investment projects focusing on the Central Federal District, the Far East of Russia and the Northern Part of Russia," said Kiril Dmitryev, chief executive officer of the Russian Direct Investment Fund.

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