Tus-Holdings, a Chinese company, has unveiled plans to set up a $1bn venture fund in Russia to finance joint research projects.
At stage one, the Chinese partner is expected to allocate $150m for the fund, with the rest to come at later stages.
In another initiative, Tus-Holdings and the Skolkovo Foundation have reached an agreement over the setup of a new Russo-Chinese center for advanced technologies on the premises of the Skolkovo Innovation Center in Moscow. Tus-Holdings is reportedly expected to invest $50m in the new center. The Russian partner will provide infrastructure to accommodate high-tech Chinese companies and will help liaise between those companies and Russian research institutes.
Tus-Holdings is focused on the creation and management of scientific parks, business incubators and tech clusters.