MOSCOW, June 4. /TASS/. Severstal is actively looking at the Chinese venture market and mulling terms on entering Chinese funds, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum.

"Previously we also actively invested in access to technologies at the global level, our company Severstal Ventures invested in startups and American venture funds. Unfortunately, due to the sanctions policy we were forced to put those activities on hold. <…> However, we are actively looking at the Chinese venture market now and we are working with Russian startups. So far we are developing the possibilities and terms on entering Chinese funds," he said.

The company is interested in projects related to industrial technologies, ecology, hydrogen, novel properties of materials and digitalization, the chief executive added.

The St. Petersburg International Economic Forum (SPIEF) will be held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.