Chinese investors bought 50 billion rubles ($ 875 million) and 60 billion rubles worth of Russian national treasury bonds this year, Russian Finance Minister Anton Siluanov said Thursday.
Moscow has increasingly sought east for investors, even for internal debt, after the West imposed economic sanctions against Russia last year for his role in the crisis Ukraine.
"I think after purchasing volume and realize that this is a good investment, cost-effective, reliable, our Chinese partners the volume of investments in the Russian economy will grow," Siluanov said in an interview with television Russia-24 on the sidelines of the BRICS summit in the Russian city of Ufa.
President Vladimir Putin, whose country needs investment to exit a recession driven by sanctions and falling oil prices, has been changing its economic and political approach towards Asian markets and to China in particular.
Putin called for closer bilateral ties during talks Wednesday in Ufa with the president of China, Xi Jinping. The leaders of India, Brazil and South Africa are also attending the summit of BRICS.
The Russian Finance Ministry plans to borrow around 800 billion rubles in the domestic market in 2015. Bond purchases by China suggests high-performance Russian assets remain attractive to certain foreign investors, despite the sanctions and volatility in the Russian ruble, which are denominated called OFZ bonds.
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