Russia and China have signed an agreement on establishing a management company of a five bln yuan ($781 mln) investment fund at the Russian-Chinese Forum on Inter-Regional Cooperation in Chinaís Harbin.
The project is being implemented with the support of the Russian-Chinese Inter-Regional Council and its Russian Co-chair Dmitry Mironov, the Yaroslavl region governor.
Executive Secretary of the Russian-Chinese Friendship Committee’s Inter-Regional Council Artyom Semyonov told TASS that the Russian-Chinese yuan fund was aimed at investing in Russiaís regional projects. According to him, at the next stage, the fund itself will be established. "We expect it to happen in the next three months. A package of documents concerning projects that will be the first to receive financing is currently under consideration," Semyonov said.
According to the Russian Customs Service, annual oil supplies from Russia to China has amounted to 52.6 mln tonnes. Rosneft accounts for 75% of oil supplies.
Russia is considering plans of opening a consulate general in northeastern Chinaís Harbin.
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