Russia and China sign cooperation deals

Russian Prime Minister Vladimir Putin has signed deals on cooperation in investments, energy and metallurgy in China. Experts say they are worth some $7 billion. However, there are no deals on Russian gas supplies for China, which have been discussed for years.

The Bank for Foreign Economic Activity and the Bank for Development of China signed a purpose memorandum on investments. They will form an investment fund for direct investments, mainly for Russia. 1 billion dollars will be issued by the Russian Fund of Direct Investments and 1 billion by the Chinese Investment Corporation. 1-2 more billion will be invested by the Sovereign Fund of China and other institutional investors.

The Bank for Foreign Economic Activity signed a deal on financing the Tayshet aluminum factory, worth about $1.5 billion, the head of the bank Vladimir Dmitriyev said.

Deputy head of the governmental office Yuri Ushakov signed an inter-governmental memorandum on cooperation in modernization of the economy. The document concerns energy technologies, development and production of wide-fuselage aircraft, railways, satellite navigation, nano-technologies, pharmaceuticals and nuclear waste.

Vice-Premier Alexander Zhukov and deputy head of the Chinese State Council Van Zishang signed a protocol of the 15th Russian-Chinese commission on preparation of meetings between heads of governments.

Agriculture Minister Yelena Skrynnik signed a memorandum of understanding and control of quality, inspection and quarantine and veterinary control.