The Intergovernmental Russian-Chinese Commission on Investment Cooperation (CIC) was established in 2014 at the initiative of the heads of state. Its main task is to facilitate the implementation of investment projects in the non-energy sector, reduce administrative and trade barriers between the two countries. On the Russian side, the Commission is headed by D.V. Manturov, First Deputy Prime Minister of the Russian Federation, and on the Chinese side by Ding Xuexiang, Deputy Prime Minister of the State Council of the People's Republic of China.
The main objectives of the CIC
- Assistance to implementation of investment projects in the non-energy sphere;
- Identifying and removing barriers in the implementation of joint investment projects;
- International partnership and increasing interest from Chinese companies in participating in projects with the Russian Federation.
Organizational structure of the CIC
| Russian Side | Chinese Side |
|---|---|
| Chairpersons of national parts of the Commission | |
| D.V. Manturov, First Deputy Prime Minister of Russia | Ding Xuexiang, Deputy Prime Minister of the State Council of China |
| Vice-Chairpersons of national parts | |
| M.G. Reshetnikov, Minister of Economic Development of Russia | He Lifeng, Chairman of the National Development and Reform Commission |
| Working secretariats of national parts of the Commission | |
| V.E. Ilichev, Deputy Minister of Ministry of Economic Development of the Russian Federation | Zhao Chenxin, Deputy Chairman of National Development and Reform Commission |
| Chairmen of the national parts of the Business Advisory Committee | |
| K.A. Dmitriev, General Director of the Russian Direct Investment Fund | Pen Chun, President of China Investment Corporation |
| Member Organizations of the Commission | |
| Ministry of Economic Development, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Trade, Ministry of Construction, Trade Mission in China, etc. | National Development and Reform Commission, Ministry of Foreign Affairs, Ministry of Commerce, Ministry of Transport, Embassy of the People's Republic of China in Russia. |
| Mechanism of cooperation between development institutions between Russia and China | |
| I.I. Shuvalov, Chairman of State Development Corporation "VEB.RF" | Zhao Huan, Chairman of State Development Bank of China |
IPC Projects
As of July 2024, the list of the Intergovernmental Russian-Chinese Commission for Investment Cooperation includes 63 significant projects and 23 perspective projects.
The projects are presented from the following sectors
- Infrastructure;
- Mining industry;
- Chemical industry;
- Agriculture;
- Mechanical engineering and others.
Criteria for selection of projects in the commission
- Total amount of investments - not less than 15 million US dollars (except for the projects under special control of leaders of two countries and the most important projects of bilateral investment cooperation);
- Compliance with Russian and Chinese legislation, as well as no contradiction with international treaties;
- Availability of a preliminary feasibility study or technical documentation required to launch the project;
- Influence on promoting socio-economic and sectoral development of the two countries;
- Contributing to solving existing economic, social and environmental problems;
- Compliance with environmental protection requirements.
Role of VEB.RF in CIC activities
- Conducting expertise and preparing opinions on projects proposed for inclusion in the CIC list;
- Monitoring the implementation of projects on the CIC list;
- Preparing proposals for removing barriers to ongoing projects and assisting in promoting CIC projects;
- Recommending removal of projects from the CIC list.
CIC Partners
economy.gov.ru – Russian Ministry of Economic Development
mid.ru – Russian Ministry of Foreign Affairs
minfin.ru – Russian Ministry of Finance
minstroyrf.ru – Ministry of Construction and Housing and Communal Services of Russia
minpromtorg.gov.ru – Ministry of Industry and Trade of Russia
russchinatrade.ru – Trade mission of Russia in China
rdif.ru – Russian Direct Investment Fund
en.ndrc.gov.cn – State Development and Reform Commission of PRC
cdb.com.cn – State Development Bank of China
china-inv.cn – China Investment Corporation
fmprc.gov.cn – Ministry of Foreign Affairs of China
russian.mofcom.gov.cn – Chinese Ministry of Commerce
mot.gov.cn – Ministry of Transport of China
ru.china-embassy.org – Embassy of China in Russia