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China’s direct investments into Russian economy exceed $4 billion in 2013

January 16, 2014, 11:08 UTC+3 BEIJING
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BEIJING, January 16. /ITAR-TASS/. China’s direct investments into foreign economies increased in 2013 by 16.8% year-on-year to $90.17 billion in comparison with 2012, China’s Commerce Ministry representative Shen Danyang said on Thursday.

“Last year China steadily boosted its investments into economies of 156 countries. At the same time the main funds were injected into Russia, EU member-states, Australia, the United States and Japan. These countries account for around 72.6% of China’s total direct foreign investments,” Shen said.

Last year China’s investments into economies of Russia, the United States, Australia and countries of Eastern Europe totaled $4.08 billion, $4.23 billion, $3.94 billion and $5.74 billion respectively. At the same time, the year-on-year growth rates of investments jumped by 518.2%, 125%, 82.4% and 29.9% respectively.

Chinese experts say a significant influx of China’s investments into Russia has been caused by “the implementation of some large-scale strategic projects.” “Oil and gas cooperation is in the first place among these projects,” Chinese Assistant Foreign Minister Chen Guoping told Itar-Tass. “Stronger interaction between the two countries at the regional level also plays a great role.”

In 2012, China’s direct foreign investments into foreign countries reached $87.8 billion.

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