Russian Direct Investment Fund, China to set up fund worth 5 bln yuan, CEO says
By Trend
Russian Direct Investment Fund (RDIF) and its Chinese partners will set up a regional fund worth 5 bln yuan, RDIF Chief Executive Officer Kirill Dmitriev told, adding that first transactions in national currencies are expected in early 2019, TASS reports.
"The RDIF together with Chinese partners is launching a regional fund in yuan with 5 bln yuan worth of capital. We expect first transactions in national currencies already at the beginning of 2019. Moreover, the RDIF plans to set up similar funds with other countries in the future," he said.
Earlier Dmitriev said that cooperation in national currencies is crucial for a successful development of trade and economic relations between the two countries.
The RDIF, established in June 2011, is Russia's sovereign investment fund with $10 bln of reserved capital under management. The fund invests directly in leading and promising Russian companies jointly with major global investors.
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