BEIJING, December 23. /TASS/. The portfolio of joint investment initiatives between Russia and China currently includes more than 80 large-scale projects in key industries, including the chemical sector and automotive manufacturing, Russian Ambassador to China Igor Morgulov said while addressing students and faculty of the Renmin University of China.

"We have put together a substantial portfolio of more than 80 major joint investment projects in areas such as automotive manufacturing, ferrous and non-ferrous metallurgy, the chemical industry, and timber processing," he said.

Morgulov also noted that in order to support investment cooperation an updated intergovernmental agreement on the promotion and protection of investments was signed earlier this year and has already entered into force. The document is intended to create favorable conditions for the implementation of planned initiatives and to safeguard the interests of investors from both countries.