China’s CIC Russian investment pledge

CIC Russian investment pledge: The China Investment Corporation (CIC), China’s $5bn sovereign wealth fund, has vowed to increase its investment in Russia, boosting Moscow’s hopes of strengthening ties with Asia if relations with the West continue to deteriorate. “CIC has invested several billions of dollars in Russia,” CIC’s chairman Ding Xuedon commented at the St Petersburg Economic Forum on Friday, “and we will continue to increase our investment in Russia, not only in the public markets, but in direct investments.” The Moscow Times