A joint investment fund will be set up by China and Russia by the end of June, according to Kirill Dmitriev, chief executive officer of the Russian Direct Investment Fund.
The fund will have $1 billion in capital from each country and is seeking a further $2 billion from Chinese institutional investors, Dmitriev said in a statement yesterday. As much as 70 percent will be invested in Russia and the Commonwealth of Independent States, he said.
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