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Chinese CODA plans to create an investment fund in 1 trillion rubles. for work in the Far Eastern Federal District - EastRussia | Far East






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Chinese CODA plans to create an investment fund in 1 trillion rubles. for work in the Far Eastern Federal District

China Overseas Development Association (CODA, China Association for the Development of Enterprises Abroad) plans to establish a fund in China with a volume of almost 1 trillion rubles. for cooperation with companies in the Russian Far East, the press service of the Ministry of Territorial Development said with reference to CODA Secretary General He Zhengwei.

"The future development of Russia is in the Far East. I believe that good times come for its development. And we plan to implement new projects there, in particular, we will use investment funds. During the year, we want to register a fund for Chinese-Russian cooperation with companies in the Far East. For example, in Primorye today a large logistics project is being implemented - the Zarubino-Hunchun transport corridor, which will have a great impact on the development of the ports of the region, as well as on the cooperation of the Far East and northeast of China, "the words of the head of the association at the panel session of the St. Petersburg International Economic Forum (SPIEF-2018) "New perspectives of cooperation between China and Russia: development prospects". CODA is considering the possibility of implementing projects in several Far Eastern regions.

Supervised by the State Committee of China on Development and Reform CODA was founded in 2004 year. The association includes almost 200 companies in the energy, oil and gas, petrochemical and other industries. Among them are Sinopec, China National Chemical Engineering Co. Ltd, China Shipping Company, ZTE Corp., China Power Investment Corp. and etc.