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Russia & China have a 'strategic alliance that makes sense' – Russian sovereign wealth fund chief

Russia & China have a 'strategic alliance that makes sense' – Russian sovereign wealth fund chief
Improving relations and boosting investment have been the top priorities for Russia and China for years, Kirill Dmitriev, the head of the Russian Direct Investment Fund told RT at the St. Petersburg Economic Forum (SPIEF).

Chinese President Xi Jinping is one of the main guests at the business forum, which runs until June 8. Russia and China have inked several major deals, including the formation of a new investment fund and the creation of an e-commerce joint venture between the Russian Direct Investment Fund (RDIF), China’s Alibaba, and Russia’s Mail.Ru Group.

“Lots of great, important cooperation with China,” Dmitriev said, in the RT interview, adding that most of the joint projects have already proven their efficiency. “We need to do more projects, more investment together. It’s not a friendship against somebody, it’s a strategic alliance that really makes sense.”

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Referring to the SPIEF event itself, which is one of the major annual economic events in Russia, Dmitriev noted that the Russian economy attracted lots of investors. Deals totaling in multi-billions have been signed during the forum with companies from all over the world.

“The mood is quite positive among foreign investors, who see very strong macroeconomic stability in Russia, and see the government undertaking a major national projects program, and a $300 billion investment program to boost growth,” the country's sovereign wealth fund chief pointed out.

For more stories on economy & finance visit RT's business section