Russia-China to invest in hi-tech development

VLADIVOSTOK, Russia (Reuters) - The Russia-China Investment Fund (RCIF) and China’s Tus-Holdings on Tuesday announced joint investment plans focusing on developing technology, which would see $1.28 bln invested in the Russian Tushino Project Technology Park.

RCIF said in a statement that the two groups were considering building a Sino-Russian high-tech innovation park with more than $100 mln investment and had launched a Russia-China venture fund with capital of $100 mln.

“Together with partners from China, we will be able to achieve breakthroughs in the area of advanced technologies and facilitate their early implementation,” said Kirill Dmitriev, Co-CEO of RCIF.

Reporting by Polina Nikolskaya; Editing by Michael Perry