Vnesheconombank and TUS-Holdings Co. Ltd. (TUS-Holdings) signed a Memorandum of Understanding with a view to formalize the framework of cooperation to advance Chinese and Russian innovative and high technology companies to respective markets of Russia and China. To reach this objective the MoU provides for various mechanisms including creation of joint science and technology centers, investment platforms, implementing co-investments in projects of mutual priority as well as other forms of cooperation in the area of private equity.
The MoU was signed by Senior Vice President of Vnesheconombank Daniil Algulyan and the Chairman of TUS-Holdings WANG Jiwu on the sidelines of the St. Petersburgh International Economic Forum – 2018.
“Signing of this Memorandum is an important step in the development of cooperation with the leading multipurpose Chinese holding company with a vast experience in the field of incubation and commercialization of technological solutions as well as operation and management of industrial parks,” said Daniil Algulyan. “This partnership offers new opportunities for supporting Russian companies exit on the Chinese market.”
As Mr. WANG Jiwu, Chairman of TUS-Holdings noted: "The signing of the MoU between VEB & TUS-Holdings is a remarkable contribution to the development of mechanisms supporting innovative and high technology companies in China and Russia which will thereby facilitate the economic growth of the two countries. Under the current international situation, the close integration of high-tech companies in China and Russia has long-term strategic significance; The extensive and in-depth cooperation between TUS-Holdings and VEB has established a platform and conditions for this integration. It is hoped that the politicians and the entrepreneurs from both countries will pay more attention to the cooperation between TUS and VEB because this cooperation is not about the two companies themselves."
TUS-Holdings Co. Ltd. (TUS-Holdings) is a holding company specializing in innovations. Incorporated under the laws of the People’s Republic of China. Participates in equity of over 800 companies; over 300 business incubators under management. Established in 2000 on the base of TUS Park, which is a leading center of innovations and new technology development. TUS Park was founded by the graduates of Tsinghua University and is the largest university science park in the world. TUS Park location in Beijing hosts 1500 companies. Total assets under management amount to 200 bn RMB (~31 bn USD).