Ringing Endorsement of China’s G20 Leadership from Russian Business Leader

PRESS RELEASE

Ringing Endorsement of China’s G20 Leadership from Russian Business Leader

Aug. 28 (EIRNS)—"The efforts of the organizers of the summit and the work under the chairmanship of China, leave no doubt that the most relevant and well worked-out issues will be submitted for consideration at the G20,—answers that will determine the future agenda, not only in the economic but also in the social and humanitarian spheres," Kirill Dmitriev, CEO and Chairman of the Russian Direct Investment Fund (RDIF), told the official Chinese news agency Xinhua today.

China demonstrates an excellent example not only of integration into the world economy but also of responding to the challenges that occur at the global level, Dmitriev said. Responsibility for stability and growth is a major component of China’s contribution in a global context, and an example for many countries.

Investment cooperation, to which China contributes greatly, plays a special role, Dmitriev said, adding that Russia and China have the same understanding of the majority of the agenda items.

"The two countries believe that there should be no barriers for the flows of investment capital, and they see considerable potential in the joint implementation of infrastructure projects, especially cross-border projects,"

he noted.

He named the construction of the first cross-border railway bridge across the Amur River, which will significantly reduce the costs of transportation, as one example of such cooperation. Currently, the financing and construction of the Russian part of it are underway, Dmitriev said. The intergovernmental Russia-China Commission for Investment Cooperation is currently considering 66 projects for a total value of $100 billion he said.

"Our Chinese partners have a long-term vision and a systemic approach to the settlement of problems. This includes a clear understanding of companies’ strategic interests, of national interests and tactical capabilities,"

Dmitriev said.

The Russian Direct Investment Fund is the country’s sovereign wealth fund, which makes direct investments in leading and promising Russian companies alongside top global investors.