Under the invitation of VTB Bank, the second largest Russian bank, representatives of the core investment funds of China visited Moscow on 18 - 20 December, 2008. Among the invited investors were senior executives of Sovereign Wealth Fund of the China Investment Corporation (CIC), which is the largest investment fund in China and forth largest in the world, and of China International Trust and Investment Corporation Securities Co. (СITIC Securities Co., Ltd), the largest investment company in China and eighth largest in the world.
During the visit arranged by VTB, the Chinese investors met with Igor Shuvalov, First Deputy Prime Minister of the Russian Federation; Elvira Nabiullina, Minister of Economic Development of the Russian Federation; Vladimir Milovidov, Head of the Federal Financial Markets Service of Russia; Arkady Dvorkovich, Aide to the President of the Russian Federation, and Alexey Ulyukaev, First Deputy Chairman of the Bank of the Russia.
In the course of the meetings, a wide range of issues was discussed related to development of the Russian economy in the current conditions and prospects of expanding cooperation in financial and investment spheres between Russian and Chinese companies, including cooperation in the securities market.
Along with the official meetings, the Chinese investors discussed the prospective joint investment and business projects with heads of the Russian companies operating in the real sector of the economy, in particular, OAO Rosneft Oil Company, OAO Gazprom, JSC VympelCom, Russian Railways, the Russian Corporation of Nanotechnologies RUSNANO, and OAO LUKOIL.
Within the framework of the visit, VTB management made a presentation of VTB Group with a special focus being placed on the Group's business development strategy in the Russian and international markets. Addressing the meeting were Andrey Kostin, VTB President and Chairman of the Management Board; Nikolai Tsekhomsky, VTB Member of the Board; Yuri Soloviev, VTB Capital CEO and Head of VTB Group Investment Business and a number of other VTB top managers.
Citing Andrey Kostin, "Nowadays, in the current unfavorable situation in the financial markets cooperation between the Russian Federation and the People's Republic of China becomes of particular importance. Under the agreements between the countries, VTB places a strong emphasis on further development of cooperation between Russia and China.
Taking into account the evident resourse complementarity of the Russian and Chinese economies joint investment projects are one of the most important and prospective forms of Russian-Chinese economic cooperation development. We are well aware of our colleagues' interest in developing cooperation, that is why VTB is ready to assist in raising Chinese investment in Russia being a leader of the Russian banking sector in the sphere of international business, acting, if necessary, as a channel of these investment into national economy development".