Direct Investment Fund Can Be Established By Russia and China

Russia and China are considering establishment of the fund to support Chinese investment in Russia's economy. This issue will be discussed at the Russian-Chinese conference on cross-border and interregional cooperation, which will be held on September 12 within the framework of the VII Baikal Economic Forum.

Russia and China reached agreement on bringing the banking sector to the creation of financial mechanisms for implementation of Cross Border Cooperation Programme at a meeting of the Regional Development Ministry of Russia and State Committee of China National Development and Reform in June 2011. China expressed interest in establishment of a joint investment fund for the development of the cooperation between regions of the Far East, Eastern Siberia and Northeast China.

"In my opinion, the result of the Russian-Chinese conference should be the creation of conditions for the cooperation of financial institutions of Russia and China, without which it is impossible to implement major projects and to attract Chinese investments into Russia, - stressed Sergei Minenko, the representative of the Irkutsk region in Beijing, “ Certainly, it would perfect to announce the establishment of more than billion fund to support Chinese investments in Russia at the VII BEF. But even if it does not happen, the discussion of instruments of public-private partnership will be an important step in the development of harmonious and mutually beneficial cooperation with the largest economy in Asia."

"The Baikal Economic Forum is traditionally of great interest to governments and businesses of China," said Mrs. Guo Min, the Consul General of China to the city of Irkutsk,” Russian-Chinese conference should become a platform for two-way exchange of experience, finding the best ways to develop economies of both countries and promote mutually beneficial cooperation."