Investments, Technology and Settlements: Highlights from the 2025 Russia-China Investment and Legal Forum

On April 22, 2025, the Russia-China Investment and Legal Forum was held at the Ararat Park Hyatt Hotel in Moscow.

The event continued the long-standing partnership between Eurasia Development Group and the Russia-China legal practice Ingvarr Zhong Yin and became a notable event for the professional community discussing practical mechanisms for entering the Chinese market and building cross-border infrastructure.

More than 200 participants — from corporations and funds to technology companies and regulators — gathered in central Moscow to discuss which instruments are already working and what Russia-China economic cooperation may look like in the coming years.

An Inside View: China’s Capital Market Is Becoming More Accessible

The opening session focused on an issue of growing interest to Russian issuers: how to access China’s capital market and which instruments can be used to do so.

Yin Haifeng, CEO of Dagong Global Credit Rating, presented an in-depth analytical overview.
He noted that China’s bond market had reached $24.8 trillion, while Panda bond issuance exceeded RMB 195 billion in 2024. These instruments are already becoming accessible to Russian companies as a source of inexpensive, long-term financing.

Mara Dumont Wang, Director of International Business at Ruida Futures, spoke about new channels for foreign investors to participate in China’s derivatives market. According to her, 75 derivative products were opened in 2025, while China continues to lead the world in exchange trading volumes.

The session also included the position of the Bank of Russia, presented by Irina Osiyuk.
The forum was opened by Galina Bogacheva of Ingvarr Zhong Yin and Kirill Babaev of the Institute of China and Contemporary Asia of the Russian Academy of Sciences, setting the tone for an in-depth discussion.

Growing Liquidity: Investment and Yuan-Denominated Debt

The second session was moderated by Andrey Prokhorovich, Managing Partner of Eurasia Development. His opening remarks set a practical focus: how Russian companies can already use Chinese financing instruments today.

“Issuing bonds in China remains one of the few real and accessible instruments for Russian issuers to raise inexpensive financing. Most importantly, we already have proven solutions and operational infrastructure,” he noted.

Irina Butenko, Head of Treasury at Severstal PJSC, and Natalia Yatsenko, Head of Debt Financing at Metalloinvest Management Company, shared their experience with yuan-denominated bonds.
Zhong Liu, Chairman of Sino-Securities, spoke in detail about ESG ratings and indices as factors that directly affect borrowing costs.
Yun Qi, Partner at Ingvarr Zhong Yin in Shanghai, explained how to establish an institutional presence in China in practice.

Technology and Deals: Entry Points into the Chinese Market

The third session offered an inside view of the Chinese venture capital and M&A ecosystem.

Fedor Susov, Managing Partner of Eurasia Capital (ED Group), presented recent analysis: in 2024, China invested more than $19 billion in semiconductors, while in March 2025 it launched a RMB 1 trillion government fund for hard-tech sectors. According to Susov, Russian corporations can already enter into strategic partnerships, particularly in R&D and technology localization.

David Li, Director of Shenzhen Open Innovation Lab, explained how this works in practice.
Andrey Borodin of IRTEYA spoke about technology transfer as a tool for accelerated development.

The session also included presentations by Liu Jingwei of ShineWing Group, Harvey Yang of Ingvarr Zhong Yin in Beijing, and Victoria Rybalko of ECOPSY, covering the legal risks of M&A transactions and the specifics of doing business in a multicultural environment.

Digital Settlement Infrastructure: Between Sanctions and Flexibility

The final session was moderated by Lyudmila Rylova, Managing Partner of STAN. It focused on how to maintain the resilience of settlements amid sanctions pressure and the transformation of the global financial architecture.

Alexey Ostanin, Founder of Money Roo, presented specific mechanisms: settlements through digital escrow, the use of cryptocurrencies and tokens within the framework of Russian legislation, and payment models through jurisdictions with less stringent KYC requirements.
Ian Zhang and Dmitry Gladkov of Ingvarr Zhong Yin also presented a legal perspective on settlements with China, discussing current risks and legal mechanisms for protecting companies’ interests.

Instead of a Conclusion: Not Just a Forum, but a Platform

The 2025 Russia-China Investment and Legal Forum reflected the maturity of the economic dialogue between the two countries. It brought together not only experts and business representatives, but also provided practical tools ranging from capital raising to the legal structuring of transactions.

Especially for the event, Eurasia Development Group and Ingvarr Zhong Yin prepared a Guide for Russian Investors on Doing Business in China — “A Journey of a Thousand Li.”
The guide brings together practical and field-tested instruments for financial cooperation with China, ranging from yuan-denominated bonds to trade finance structures.

Eurasia Development Group thanks all forum participants for their trust, open dialogue and contribution to shaping a new investment landscape.