Saudi Arabia & China Sign Deals Worth Billions

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    Saudi king’s China trip nets agreements ‘worth billions’

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    BEIJING // China and Saudi Arabia signed agreements potentially worth tens of billions of dollars on Thursday, as President Xi Jinping welcomed King Salman on a state visit.

    The visit by the 81-year-old king comes as China pursues a charm offensive towards the Middle East, where it has previously kept a low profile.

    The trip returns the favour after Mr Xi visited the kingdom last year as part of the first state visit to the Middle East by a Chinese leader in seven years.

    No specifics were given about the 14 memoranda of understanding that were signed at Beijing’s Great Hall of the People, which included agreements in energy, and a range of other spheres.

    But China’s vice foreign minister Zhang Ming revealed various projects could be worth up to $65 billion.

    King Salman arrived in China on Wednesday following stops in Japan, Malaysia and Indonesia as part of a month-long Asia tour.

    Continue Reading: http://www.thenational.ae/world/east-asia/saudi-kings-china-trip-nets-agreements-worth-billions
     
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