Moscow To Tap Chinese Funds to Boost Russian Economy

Now here is the big step.

A natural occurrence that voids the western influence. Where then for the West?

A file photograph of Chinese President Xi Jinping and Russian President Vladimir Putin at the State Kremlin Palace in Moscow.      Reuters

International Business Times
By M. Rochan
10 May 2014

Russia proposes to tap Chinese money as European and American sanctions over Ukraine threaten to push the world's largest energy producer into recession, according to two senior Russian government officials.

Moscow is looking to boost growth and funds from the world's second largest economy could find their way into a host of industries such as natural resources, housing and infrastructure construction, the unnamed officials told Bloomberg.

Two government meetings are scheduled this month to set rules for Chinese investors targeting Russia, the officials said.

However, Moscow could prevent the Chinese from investing in precious metals, diamond mining and in high-technology projects. Russia will also examine ways to curb a large influx of Chinese citizens into its territory to prevent ethnic tensions, they added.

Russia's relations with China are growing steadily, despite other issues, and no "special" government meetings are being planned on China, Russian President Vladimir Putin's spokesman Dmitry Peskov told Bloomberg.

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