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The Chinese commercial and industrial bank plans joint investment projects with Russia worth a billion dollars

A new shipbuilding cluster will be built in the Far East by joint efforts of Russia and China, RBC-TV reports.

This opportunity arose after the signing by the Ministry of Development of the Far East of the Memorandum of Cooperation with China in the field of shipbuilding. However, according to Deputy Prime Minister Yuri Trutnev, the Memorandum is only the beginning, and the development of concrete proposals for cooperation is expected within the next two months.

On the part of Chinese partners, the construction of a shipbuilding cluster will be undertaken by CSC, one of the largest construction companies in the country. The company is ready to take part in the construction of ports, but there are proposals to create a joint investment platform.

At the same time, the Russian delegation met with representatives of the Chinese Commercial and Industrial Bank today. The assets of the Commercial and Industrial Bank are the largest in the world, they are three trillion dollars. In comparison, the entire Russian economy is 3,5 trillion.

At the moment, the Chinese Commercial and Industrial Bank already has Russian projects worth nine billion dollars. Now we are talking about new projects, the cost of which will reach about a billion dollars - says Alexei Chekunkov, General Director of the Far East Development Fund, who was entrusted with the development of this cooperation.

It is important to note that the Chinese bank is interested not only in project lending, but also in entering into their authorized capital, as well as participating in concessions.

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