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Russia's Rusnano Seeks Chinese Investment in Nanotechnology

Rusnano has invited Chinese partners to create a joint fund for investment in nanotechnology, Anatoly Chubais, head of the state technology enterprise, was quoted as saying Tuesday by Prime news agency.

Speaking after the first meeting of a commission for investment between Russian and China, Chubais said both countries would contribute equally to the fund, adding that the commission's co-chairman, Chinese Vice Premier Zhang Gaoli, had expressed an interest in the offer and had asked him to flesh it out.

Russia is interested in working with China on nanotechnology as Beijing already invests "gigantic" sums in that sphere, Chubais said.

He declined to say how large the joint investment would be.

Moscow is pivoting toward the east to soften the impact of Western sanctions imposed on Russia over its role in Ukraine. On Tuesday, First Deputy Prime Minister Igor Shuvalov said Russia and China had agreed to settle more trade in ruble and yuan to improve cooperation between the country's banks, while a top Russian rail official said a Chinese bank was ready to invest 400 billion rubles ($10.7 billion) in a rail link between Moscow and Kazan, the capital of the republic of Tatarstan.

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