BEIJING, Aug 7 (PRIME) -- Russia and China plan to announce creation of a special 100 billion Chinese yuan regional development fund during the upcoming Eastern Economic Forum, He Zhenwei, a senior economist and secretary general of the China Overseas Development Association (CODA), told PRIME on Tuesday.
“Creation of the Russian–Chinese regional development fund will become one of the major events of the Eastern Economic Forum for us this year. A national development and reform commission officially ratified creation of the regional development fund on June 7,” he said.
The fund will invest in development of cooperation of regions of the two countries, but only China will contribute money to the fund, he said.
The Eastern Economic Forum will take place in Vladivostok on September 11–13.
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