Russian Direct Investment Fund Plans Using Rubles, Yuans In Deals With China Starting 2019

Fakhir Rizvi Published September 12, 2018 | 05:42 AM

Russian Direct Investment Fund Plans Using Rubles, Yuans in Deals With China Starting 2019

MOSCOW (UrduPoint News / Sputnik - 12th September, 2018) Head of the Russian Direct Investment Fund Kirill Dmitriev said on Wednesday that the fund was intending to start using national currencies in its transactions with China starting next year.

"The first deals will be [conducted in national currencies] in the beginning of the next year.

We have an agreement with the China Development Bank on a large fund in Chinese yuans worth of $10 billion. Recently, we have launched a regional fund in Chinese yuans jointly with the Heilongjiang province. It has already started examining projects and we expect first investment in the near future," Dmitriev said at the Eastern Economic Forum.

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