Russia urges NATO to stop attempts of building ties in confrontation spiritRussian Politics & Diplomacy May 26, 12:01
Russia to sell over 360 cutting-edge helicopters by 2030Military & Defense May 26, 11:37
Trump’s limo too big to fit through Royal Palace gates in BrusselsWorld May 26, 11:18
Russian ambassador says Paris remains important partner for MoscowRussian Politics & Diplomacy May 26, 10:20
Forest fires in Siberia swell four times to cover 30,000 hectaresWorld May 26, 9:45
Seoul pins hopes on Moscow in resolving tensions on Korean PeninsulaWorld May 26, 9:14
Space technologies offer glimpse at Tsar Ivan the Terrible’s rare portraitSociety & Culture May 26, 8:05
Meteorologists name world’s deadliest cyclones, tornadoes and hailstormsWorld May 26, 7:51
Most Americans view Russia as unfriendly country — surveySociety & Culture May 26, 7:35
BEIJING, November 10. /TASS/. Russia and China inked a memorandum on Monday in Beijing on setting up a managing company for the joint venture fund of prospective investments.
“We are ready to use the opening investment possibilities in both Russia and China. The signing of today’s document is a very important beginning. It is remarkable as this is happening during the APEC forum in Beijing, which has again stressed the significance of the Russian-Chinese trade and economic cooperation,” the president of China Finance Strategies Investment Holdings Ltd, Hua Fenmao, said.
The director general of VEB Asia, a subsidiary of the Russian bank’s in Hong Kong, Pyotr Selivanov, said the board of directors of the managing company will consist of Chinese and Russian representatives, and the fund will comprise joint investments.
“We plan to diversify our investments. Dollars should be abandoned. In many projects, we are carrying out now the Chinese part is great. We can allocate funds in Chinese yuans,” Selivanov said.
Russia is ready to use yuans in accounting practices for a range of projects involving Chinese technologies and contractors, said the director general of VEB Asia. “In Russia, we use rubles in accounting with manufacturers, in China we use yuans, and dollar serves here as a currency-mediator and we seek to abandaon this practice,” he said.
Speaking on investment, Selivanov said, “This is an absolutely real sector, mining industry, infrastructure projects, including housing.” He stressed that Russia and China can enter a new level of relations in trade, besides investments in oil and gas sector.