Russia, China approved list of major investment cooperation projects

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AK&M 11 December 2020 14:18

Russia and China have approved a list of major investment cooperation projects amounting to a total of $107 billion, according to a statement by Russia's Ministry of Economic Development.

China is the leading investor in the Russian economy and the largest foreign trade partner of the Russian Federation. As of the start of 2020, cumulative direct Chinese investment in Russia reached $3.7 billion according to Russian data, $12.8 billion according to China.

The Russian-Chinese trade turnover doubled over the past 5 years. Cooperation is also developing in the gas chemical industry, the agro-industrial and mechanical engineering sectors.