Lin Zhi and Russia

economic cooperation: Russia started to significantly expand economic cooperation with China last year amid worsening ties with the West, according to The Moscow Times. According to Lin Zhi, the inflow of Chinese investment in Russia is mainly constrained by a sharp ruble devaluation. We cannot say that investment activity is decreasing, but the investors are taking the economic difficulties into account and choosing new ways to invest in the Russian economy," TASS quoted head of the Europe and Central Asia Department of the Chinese Ministry of Commerce Lin Zhi as saying. The Russian currency lost about half of its value against the U.S. dollar on the back of low oil prices — Russia main export — over the past year. As of Dec. 31 last year, the total amount of direct Chinese investment totaled $4 billion, TASS reported. Despite the challenges Chinese investors face due to Russia ruble devaluation, they still show a positive attitude toward developing investment projects in Russia, Lin Zhi said, noting that several major Chinese investment projects in automobile industry, agriculture and infrastructure reconstruction are currently being launched. (news.financializer.com). As reported in the news.