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China-Russia Signed MOU on Technology Innovation Fund

On June 5, 2019, Minister Wang Zhigang and Minister Maxim Oreshkin of the Ministry of Economic Development of the Russian Federation signed an MOU to establish the China-Russia Research and Technology Innovation Fund. 

According to the MOU, the two sides will jointly set up a US$1 billion fund to support the development of new technologies in key economic and cross-cutting fields in both countries, as well as promote the transfer, commercialization and application of joint science and technology solutions and innovation achievements with an emphasis on supporting SMEs.