China’s $300 billion sovereign wealth fund, China Investment Corporation (CIC), is seeking to invest in Russia, AFP reports, citing Xinhua News Agency. CIC may either invest through Russia’s direct investment fund or through a new round of privatization in the country.

The direct investment fund aims to attract $10 billion in foreign investment from Russia in the next five years. CIC’s Russian portfolio was expected to include stocks and bonds, commodities, infrastructure and real estate projects to diversify risks.

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