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Russia and China have agreed on a joint promotion of venture projects

09 July 2015
Russian Venture Company (RVC OJSC) and Venture Capital Professional Commission of Science and Technology Financial Promotion Association of China signed a cooperation agreement.

The agreement was signed on Thursday in the framework of the Sixth INNOPROM-2015 International Industrial Trade Fair by Mr Igor Agamirzian, Chief Executive Officer, RVC and Mr Xu Xiaoping, Chairman of the Venture Capital Professional Commission of Science and Technology Financial Promotion Association of China.
“The agreement signed today is not the beginning of the path, but a mark of the key point; actually we have been cooperating for a year and a half. We conducted a large number of joint activities,” Mr Igor Agamirzian said after the signing ceremony.
According to him, this cooperation agreement will enable Russian companies to obtain a reliable infrastructure of entering the Chinese market, as well as to attract interested foreign partners to create technological alliances and to implement promising projects.
RVC and Chinese party began to collaborate in 2014 with the introduction of the technological infrastructure of each other.  Representatives of RVC got acquainted with several key technological areas of China, including Harbin, Guangdong, Yantai, and Shanghai in the format of a separate business missions and joint activities. Key directions for bilateral cooperation were identified according to results. They include: technologies in the field of environmental protection, innovative technologies in agriculture, and new gaming solutions in the IT industry.
According to the agreement, the parties agreed on joint efforts to attract Chinese and Russian investors for implementation of joint venture projects in Russia and China. The parties intend to join efforts to promote the production of innovative and industrial enterprises in the Russian and Chinese markets, to commercialise innovative technologies and projects, as well as organise expert support of modern industrial equipment supply to enterprises for modernization of production facilities and transfer of innovative technologies.
It is planned to organize a system of training and further training of heads of state bodies, industrial enterprises, engineering and technical personnel, teaching staff of Universities on the basis of Russian and Chinese innovation centres.
To implement all the stated objectives, the parties intend to create a Russian-Chinese working group.
RVC OJSC is a state foundation of funds, Russian Federation development institution, one of the government's key tools in building its own national innovation system. The authorized capital of RVC OJSC is more than 30 billion roubles. 100% of RVC capital belongs to the Russian Federation represented by the Federal Agency for State Property Management of the Russian Federation (Rosimushchestvo).
The total number of funds created by RVC OJSC, reached 21, their total size is 29 billion roubles. The share of RVC – 18.3 billion roubles. The number of innovative companies approved for investment RVC funds reached 174. Total volume of approved investment funds – 16.2 billion roubles.
Venture Capital Professional Commission of Science and Technology Financial Promotion Association of China (Commission) is an important platform of innovation promotion in the PRC. It was established in 2000 by the Science and Technology Financial Promotion Association of China together with the Torch Centre of the Chinese Ministry of Science and Technology. The goals of the Commission are: association of venture capital organisations all over the country, development of communication platforms in the area of venture investment, encouraging the development of innovations and high-tech industries. In addition, the Commission is in charge for organising national and international events for the exchange of experience and integration efforts for the development of the venture industry; it conducts market research, organises training programs, and provides analytics and strategic reports to state agencies for policy-making in the industry of venture entrepreneurship. 
The Torch Centre for the development of high technology industry was established in 1989 under the Ministry of science and technology in China, as a state formation to create a better environment for innovative technologies and development of high-tech industry in China.


INNOPROM-2015 International Industrial Trade Fair takes place in Ekaterinburg over 8th to 11th July, 2015, in one of the largest expo-complexes of Russia, IEC "Ekaterinburg-Expo". This year, for the first time in INNOPROM’s history, China has been selected as a partner country. More than 150 different events of various formats are held during INNOPROM-2015. In 2014, INNOPROM presented about 600 companies from 70 countries. Ekaterinburg welcomed more than 30 foreign delegations. This year, GC Formika has become the operator of the International Trade Fair for the sixth time.


The general information partner for INNOPROM-2015 is Interfax and the administrator of the press center of the fair.

For more information, please contact with the Press Secretary of the INNOPROM 2015 Svetlana Ilyuk by phone +7 963 970 89 36
or with the head of the press center of the exhibition (IEC Ekat-EXPO) Ekaterina Graboedova +7 922 214 55 36



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