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RDIF and RCIF participate in meeting of Intergovernmental Russian-Chinese Commission for Investment Cooperation

Moscow, December 10, 2020 – Delegations from the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Russia-China Investment Fund (RCIF), a private equity fund established by RDIF and China Investment Corporation (CIC), have participated in the seventh meeting of the Intergovernmental Russian-Chinese Commission for Investment Cooperation, which took place in a video-conference format.

On behalf of Russia, the Commission is headed by Andrey Belousov, First Deputy Prime Minister of the Russian Federation, while the Chinese delegation is led by Han Zheng, Vice-Premier of the People’s Republic of China.

Over the course of the meeting, the Commission members discussed the investment, trade and economic cooperation. The Commission and the Russian-Chinese Business Advisory Committee (the “Committee”), co-chaired by RDIF and CIC, are currently considering approximately 70 projects for a total value of $107bn. Since the inception of the Commission, RDIF and CIC, as co-chairs of the Committee, have played the leading role of coordinators for the collection, analysis, structuring and implementation of projects, acting as a key link in the development of economic and financial relations between Russia and China. RDIF and CIC advise on removing barriers to implementation of projects in Russia and China, as well as applying direct investment and project finance expertise to promote the Commission’s projects and raise funding.

To date, RDIF and RCIF have invested over $500m in a number of projects of the Intergovernmental Commission. The investments will reach $6bn in total taking into account the funds attracted from international partners.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:

“The investment cooperation between Russia and China is actively developing in several key areas. In particular, in July 2020, a $1bn Russia-China Technology Investment Fund was launched, which is already studying more than 10 projects worth $150m. Also in 2020, we successfully completed the creation of a joint $1bn Russia-China Greater Bay Area Fund alongside Guangdong Utrust Investment Holdings. Not only are we proactively developing the bilateral economic relations, but we are also cooperating in the fight against the main challenge to humanity at the moment – COVID-19. We are convinced that by joining efforts we will able to defeat the pandemic, implement our current tasks and start new projects for the benefit of the peoples of Russia and China.

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at

Russia-China Investment Fund (RCIF) is a private equity fund aimed to generate competitive returns by investing in projects that advance bilateral economic cooperation between Russia and China. Further information can be found at

For additional information contact:

Arseniy Palagin                                          Andrew Leach / Maria Shiryaevskaya

Russian Direct Investment Fund                Hudson Sandler

Press Secretary                                            Tel: +44 (0) 20 7796 4133

Tel: +7 495 644 34 14, ext. 2395

Mobile: +7 916 110 31 41


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Last Updated: 10-Dec-2020