Gold prices fall as geopolitical tensions ease; U.S. CPI looms
Investing.com -- VEB, the Russian state development bank, has announced plans to allocate approximately 3.5 trillion roubles ($42.74 billion) in funding for collaborative projects with Chinese businesses. The announcement was made by VEB head Igor Shuvalov on Thursday, during a meeting between the leaders of the two nations in Moscow.
Russian President Vladimir Putin, who met with Chinese President Xi Jinping on Thursday, expressed that the comprehensive cooperation between Moscow and Beijing in industry and technology continues to be consistently enhanced. Putin welcomed the establishment of production facilities and the transfer of Chinese industrial expertise to Russia.
"For our part, we intend to continue creating comfortable conditions for Chinese companies to operate in Russia," Putin stated.
Shuvalov, speaking on the sidelines of the Putin-Xi meeting, specified that the 3.5 trillion roubles in funding is designated for projects in the gas, metallurgy, timber processing, and shipbuilding industries. This move indicates a significant step in the ongoing collaboration between Russia and China in various industrial sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.