The RС Investments Foundation for Investment Promotion, the investment division of the Roscongress Foundation, along with Sinno Investment Company LLC (Beijing) and the Investment Promotion Bureau of the Guangzhou Development District have agreed to establish a joint venture for a project to build a Russian-Chinese Development Centre in the Guangdong Province city of Guangzhou. In December, a Russian delegation led by senior officials from the Roscongress Foundation and the RС Investments Foundation as well as representatives of the scientific, political, and business community visited China to discuss cooperation with the Guangdong government.
«The activities of the Russian-Chinese Centre will aim to find promising investment projects and carry out joint economic, educational, and cultural activities in the Asia-Pacific region. The creation of a joint venture will significantly bolster trade and economic relations between our countries and will also help to implement a number of promising innovative projects», RС Investments Foundation CEO Alexander Shatirov said.
The centre will be located in the Greater Bay area of Guangzhou, a leading financial centre in the Asia-Pacific region. «Guangzhou is the political, economic, scientific, technical, educational, cultural, and transport centre of southern China, and the financial institutions of Shanghai, Hong Kong, and Macau are just an hour away. The establishment of the Russian-Chinese Centre in Guangzhou will provide an additional boost to the regions development. We are ready to provide comprehensive support for joint Russian-Chinese projects», said Shao Jinbo, director of the Investment Promotion Bureau of the Guangzhou Development District.
Guangzhou has a population of more than 14 million and is the third largest city in China. The citys gross regional product amounted to CNY 2.3 trillion in 2018 (an increase of 6.5% from the previous year).
During a previous visit to China, a delegation led by representatives of the Roscongress Foundation and the RС Investments Foundation held talks on prospects for developing joint projects with Huangpu District Party Committee Secretary Zhou Yawei.