16:48 GMT04 March 2021
Listen Live
    Get short URL
    0 43

    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.


    Beijing Hopes Madrid ICBC Bank Money Laundering Case Handled Lawfully
    ICBC Regional Head Comments on Russia-China Economic Cooperation
    China's ICBC Ready to Open Clearing Bank in Russia
    China's ICBC to buy Russian bank for reported $800 mln - paper
    aviation, energy, high-tech, investments, Industrial and Commercial Bank of China (ICBC), China, Russia
    Community standardsDiscussion