MOSCOW, May 19./ITAR-TASS/. Investments in the joint Russia-China Investment Fund (RCIF) will soon exceed one billion dollars, the head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev has said.

“China is the major foreign trade partner of Russia. This has an impact on investment cooperation with Chinese partners,” he said on Monday.

The Russia-China Investment Fund was founded in 2013 under the auspices of China Investment Corporation. “Soon the total amount of investments in the Russia-China Investment Fund will reach one billion dollars,” Dmitriev said.

He will accompany Russian President Vladimir Putin on his working visit to China scheduled for May 20. A RCIF delegation will take part in the visit.

During the visit, the parties are expected to sign agreements in such areas as tourism, logistics, infrastructure and natural resources extraction.

Russian businessmen will meet with Chinese strategic investors in Shanghai and Hongkong. On May 19, the RCIF delegation will visit Hongkong to take part in a roundtable meeting with the participation of Chinese major investment funds. On May 20, fifty CEO’s from major Russian and Chinese companies will meet to discuss joint projects.