A group composed of Russian and Chinese businesses is considering 73 joint investment projects cumulatively worth more than $100 billion, according to a Tuesday statement.
Cooperation between China and Russia is an issue of global importance as both nations try to achieve economic stability despite the pain of U.S. penalties — sanctions against Russia, and an escalating tariff war against China. Beijing and Moscow have had a rocky relationship, but the two governments have publicly sought closer ties in recent years.
The group overseeing the potential billions in investment is the Russian-Chinese Business Advisory Committee, which held an annual meeting this week during the Eastern Economic Forum in Vladivostok, Russia.
The announcement said seven projects worth a total of $4.6 billion had already been implemented as a result of work by the China-Russia group.
Reference: CNBC
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