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07 Jun 2019, Gergana Bencheva, EMIS Editor

Russia, China to set up USD 1bn venture fund

Russia and China have inked a deal to create a research and technology innovation fund worth USD 1 billion, Thai EconomicNews Service reported. The document for the establishment of the new entity was signed in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping.

The new institution’s goal will be to transfer, promote and implement joint innovative decision with a focus on supporting small-and medium-sized enterprises (SMEs). It will be created for eight years, with the possibility to extend its existence by a total of four years.

The venture fund project will be financed by the Russian Direct Investment Fund (RDIF) and the China Investment Corporation (CIC), Thai EconomicNews Service added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Thai EconomicNews Service

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