JSC Gazprombank, the Russia’s third largest bank, and China Chengtong Holdings Group Ltd, a Chinese company engaged in integrated logistics service and assets operation, have signed an agreement on the establishment of a joint investment fund.
The fund’s capital stock will be up to $1 billion. On the part of Gazprombank, the document was signed by its head, Andrey Akimov, while Chairman of the Council of Directors of the Chinese holding, Ma Zhengwu, acted on behalf of China Chengtong.
The deal was concluded over the course of a session of the Russian-Chinese Committee for friendship, peace and development within the framework of an official visit of Chinese leader Xi Jinping in Moscow.
