Russia to invest $20bn in projects with China

Six new projects, worth $20 billion in total, may soon be added to the list of Russia-China joint investment initiatives, according to Russia’s Ministry of Economic Development. One of the proposals is to build a gas and chemical facility in Russia’s Leningrad region. The commission, set up in 2014 at the initiative of the two countries’ presidents, is currently supporting around 70 investment projects, with a total value of $112 billion which focuses on coordinating and strengthening investment flows between the two partners. China is Russia’s largest trading partner, with the cross-border trade volume having grown for several consecutive years and reaching a record $110.75 billion at the end of 2019.