Russia and China to form $1 bln industrial investment fund

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BEIJING – The Russia-China Investment Fund (RCIF) and China Chengtong Holdings Group have agreed to establish a joint $1 billion industrial investment fund, RCIF said on Friday.

The agreement, signed during Russian President Vladimir Putin’s visit to Beijing, envisages investments in various sectors with a focus on the development of industrial, transport and tourism infrastructure in Russia.

RCIF is a joint venture between Russian Direct Investment Fund and China Investment Corp.