Russia and China at the Eastern Economic Forum will announce the official establishment of the Russian-Chinese Fund for Regional Development of 100 billion yuan, said in an interview with RIA Novosti, the general secretary of the China Overseas Development Association (CODA), senior economist He Zhenwei.
CODA is a non-profit public organization under the direct authority of the State Committee for Reform and Development of China. The Association provides services to Chinese enterprises in investing and developing business abroad.
Last May, following the results of the One-Way-One-Way Forum, the State Committee for Reform and Development of China announced plans to establish a 100 billion-yuan Russian-Chinese fund to develop regional cooperation between the Russian Far East and the northeastern regions of China.
“One of the most important events for us this year at the WEF will be the establishment of a Russian-Chinese regional development fund. The State Council on Reforms and Development on June 7 formally ratified the creation of a regional development fund. Previously announced plans to create this fund. The official ratification of the creation of this fund is a great event for the two countries,” He Zhenwai said.
He added that the fund is aimed at developing bilateral bilateral cooperation, but the funds to it are allocated only by the Chinese side. “This is also closely related to Russia, because the company managing the fund has already registered an enterprise in Moscow. This enterprise will be responsible for the selection of projects, “said CODA Secretary General.
“An official ceremony will be held. We hope that the leaders of the two countries will be able to take part in it, but it is still difficult to talk about this, everything will depend on the schedule of the leaders,” He Zhenwai said.
Earlier, Russian Ambassador to China Andrey Denisov said that the Chinese side confirmed the participation of President Xi Jinping in the Eastern Economic Forum. The Chinese leader is expected as the main guest of the forum. The fourth Eastern Economic Forum will be held on the campus of the Far Eastern Federal University on the Russian Island on September 11-13.