Russia seeks more Chinese investment

Russia is interested in Chinese investment, Finance Minister Anton Siluanov said Friday.

The official said Russia has seen Western markets closed to Russian investment, so the country has been stepping up its financial cooperation with China and is seeking larger Chinese investments in the Russian economy.

Siluanov mentioned the 800-km high-speed railway connecting Moscow with Kazan, capital of the Tatarstan Republic, as one possible project China may invest in. The investment for the project is estimated at 1 trillion rubles (19 billion U.S. dollars).

Siluanov also expressed support for China's initiative of the Silk Road Economic Belt.

"The Silk Road initiative would facilitate a broader relationship between our countries," RIA Novosti news agency quoted him as saying.

Siluanov noted that the project would provide better conditions for freight between Asia and Europe and therefore help improve Russia's economy.