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China and Russia Sign Deal Setting Up $4 Billion Investment Fund

The wealth funds of Russia and China will each commit $1 billion in a joint investment fund worth as much as $4 billion, raising additional money from third-party international investors, China Investment Corp. said today.

China Investment Corp.’s Chairman Lou Jiwei and Russian Direct Investment Fund’s Chief Executive Officer Kirill Dmitriev signed a memorandum today “signifying the full launch of the joint fund,” according to the statement posted on the Chinese sovereign wealth fund’s website.