RCIF says to team up with Chinese partner in $1 bln fund on Friday

BEIJING, Jun 7 (PRIME) -- The Russia-China Investment Fund (RCIF) will establish a U.S. $1 billion fund with a Chinese partner on Friday, CEO of the parent fund, the Russian Direct Investment Fund (RDIF), Kirill Dmitriev told reporters on Thursday.

“Tomorrow we will announce an agreement on establishment of a $1 billion fund with one of the leading Chinese funds in order to invest in such industries as transport, tourism, infrastructure,” Dmitriev said.

The RCIF will also establish a 5 billion yuan fund for transactions and investment in Chinese yuans. “This is an important step for us because we see an increased interest in settlements in the national currencies.”

He said that the RCIF will also announce investments in a Russian bank on Friday.

(6.3920 yuans – U.S. $1 )

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