Saudi Arabia, China sign 34 cooperation deals

Saudi Arabia and Chinese firms signed 34 investment agreements during a visit of Chinese President Xi Jinping to the kingdom.

The agreements between the two sides covered sectors in the fields of green energy, green hydrogen, photovoltaic energy, information technology, cloud services, transportation, logistics, medical industries, housing and construction factories, Saudi news agency SPA reported on December 8, Zawya reports.

Minister of Investment, Khalid bin Abdulaziz Al-Falih confirmed that the agreements reflect the kingdom's keenness to develop relations in all fields including economics and investment with the friendly Republic of China.

However, no further details were available on the deals signed by both countries.

The volume of trade exchange between the two countries amounted to 304 billion Saudi riyals ($81 billion) in 2021, and trade exchange in the third quarter of 2022 recorded 103 billion Saudi riyals ($27 billion).

Xi Jinping’s multiple-day visit will include a “Saudi-Chinese summit,” a China-Arab and a China-Gulf Cooperation Council (GCC) summit, SPA previously reported.