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FinancialNews


  • 11-12-22

    Saudi Arabia carries on to expand its economic, political ties, signs 35 deals with China

    (MENAFN) China’s business relations with Saudi Arabia have been considerably grown due to the inking of 35 investment deals including organizations from the two nations.

    The raft of agreements came throughout the trip of Chinese Leader Xi Jinping to the nation. They go below a variety of industries, such as green energy, technology as well as cloud services.

    Transportation, logistics, medical industries, construction as well as production are also below by the agreements, as is a petrochemicals ventures, residential improvements as well as the teaching of the Chinese language.

    The deals are valued at nearly USD30 billion, and occurs as China looking to support its COVID-19-impacted economy and Saudi Arabia carries on to expand its financial as well as political associations along with Vision 2030.

    The inking of the deals was supervised by Saudi Crown Prince Mohammed bin Salman as well as leader Xi, with the initiative of an arrangement strategy among Saudi Arabia’s Vision 2030 as well as China’s Belt and Road Initiative.

    MENAFN11122022000045014228ID1105294432

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