The Russian Direct Investment Fund, Russia’s sovereign wealth fund, and the Russia-China Investment Fund, announce a strategic partnership with Guangdong Utrust Investment Holdings (the investment fund of Guangdong province). The agreement was signed yesterday in the presence of the Prime Minister of the Russian Federation Dmitry Medvedev and the Prime Minister of China Li Keqiang, the RDIF’s official website reports.
The parties have agreed to cooperate for stimulating the growth of Russian companies in Guangdong, as well as investing in the development of businesses from Guangdong in Russia.
Guangdong is China’s leading province in terms of GDP and the most important region in terms of trade cooperation with Russia. Expanding the financial support mechanism for companies will significantly intensify Russia’s cooperation with Guangdong and integrates into the implementation of the Greater Bay Area initiative between Guangdong (city of Zhuhai), Hong Kong and Macao, which creates new investment opportunities in the region.
Guangdong Utrust was founded more than 35 years ago and has grown into a major diversified financial institution with total assets of more than $75 billion under management at the end of 2018.R