16:48 GMT04 March 2021
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    The Chinese investment in Russian projects, in particular in the energy and high tech industries, will rise in the near future, President of the Russian branch of the Industrial and Commercial Bank of China (ICBC) Li Wencong said Thursday.

    MOSCOW (Sputnik) – Li added that on the Russian market there was a range of appealing companies and projects, stressing that he regarded energy and mineral resources, aviation and high tech production as the most attractive spheres.

    "The interest to investing in Russian projects will continue to grow. We have received a lot of delegations regarding many projects over the past months," Li told RIA Novosti.

    According to Li, ICBC intends to expend its network in Russia by opening offices in other Russian cities, besides Moscow and Saint Petersburg, with Russia's Far East regarded as priority region.

    "We assess our activity on the Russian market as positive. At the present time we are increasing our registered capital… In case everything is finalized successfully, our capital will amount to 11 billion rubles [approximately $154.6 million]," Li said.

    At present, the ICBC registered capital amounts to 2.3 billion rubles (approximately $35.6 million), according to the Russian Central Bank.

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    Tags:
    aviation, energy, high-tech, investments, Industrial and Commercial Bank of China (ICBC), China, Russia
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