RCIF, Hainan province to allot $500 mln for joint projects

MOSCOW, Jul 5 (PRIME) -- The Russia-China Investment Fund (RCIF) and the Chinese province of Hainan have agreed to cooperate in implementation of U.S. 500 million worth of joint projects in the two countries, the Russian Direct Investment Fund said in a statement on Wednesday.

Cooperation supports development of a One Belt – One Road initiative and investment cooperation of Russia and China. Priority directions of the agreement include development of industrial and innovative parks, hi-tech medical services, facilities of touristic and social infrastructure, and culture and art projects, the RDIF said.

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