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Russia and China to form $1 bln industrial investment fund

BEIJING, June 8 (Reuters) - The Russia-China Investment Fund (RCIF) and China Chengtong Holdings Group have agreed to establish a joint $1 billion industrial investment fund, RCIF said on Friday.

The agreement, signed during Russian President Vladimir Putin’s visit to Beijing, envisages investments in various sectors with a focus on the development of industrial, transport and tourism infrastructure in Russia.

RCIF is a joint venture between Russian Direct Investment Fund and China Investment Corp. (Reporting by Denis Pinchuk and Polina Nikolskaya; editing by Maria Kiselyova)

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