The Russia-China Investment Fund (RCIF, established by RDIF and China Investment Corporation) has agreed on the cooperation and implementation in Russia and in the territory of the Chinese province of Hainan of joint projects totaling more than $500 million, the press office of the Russian Direct Investment Fund reports on Wednesday.
The agreement was signed by the leadership of RCIF and Hainan province within the framework of a state visit of President Xi Jinping to Russia.
“The agreement supports the development of One Belt, One Road initiative and a bilateral investment cooperation between Russia and China. The priorities are the following: the development of industrial and innovation parks, high-tech medical services, tourist and social infrastructure, as well as initiatives in the sphere of culture and art. The total volume of expected projects is estimated at over 500 million dollars,” the Fund’s statement reads.