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The size of the investment fund set up by Russia and China will be 100 billion rubles (about 1 billion USD), and the amount of investment in the two countries will be equal.
The press office of the Russian Direct Investment Fund (RDIF) said on October 17 that the country and China will establish ainvestment fundinto the aircraft industry.
The size of the fund will be 100 billion rubles (about 1 billion USD), and investments in Russia and China will be made equally.
The establishment of the fund by RDIF was announced amid the visit to China by Russian President Vladimir Putin.
“In addition to the aviation sector, the Fund will invest in existing and prospective projects in the field ofaerospace, Digital and energy-saving technology and big data."
The Russian-Chinese long-range wide-body aircraft project, which is expected to compete with the A330 and Boeing 777 passenger planes, began in April 2014.
The project is being carried out by the Aircraft Corporation (part of the Russian technology giant Rostec) and China's COMAC. In 2017, the project was named CR 929.
This is not the first time Russia and China have established a joint investment fund. In 2015, RDIF and China Construction Bank agreed to set up a fund with plans to invest $20 billion in the Russian economy.
The fund is worth $2 billion. Part of the investment is allocated by the fund, the rest is loans from Chinese banks.
According to Vietnam+