China, Saudi sign agreements worth $30 billion

MENA

Published: 2022-12-08 19:24

Last Updated: 2023-02-07 08:00


China, Saudi sign agreements worth $30 billion
China, Saudi sign agreements worth $30 billion

Saudi Crown Prince Mohammed bin Salman and Chinese President Xi Jinping signed agreements worth about USD 30 billion, during the latter's visit to the kingdom.

Prince Mohammed bin Salman and Xi met at Yamamah Palace in Riyadh, flanked by high-ranking officials wearing face masks, footage aired on state television showed.

They oversaw the signing of energy agreements on hydrogen as well as a plan to "harmonize" Saudi Arabia's ambitious economic reform agenda, Vision 2030, with China's trillion-dollar Belt and Road Initiative, the official Saudi Press Agency said.

The signed deals also covered a petrochemicals project, housing development, and the teaching of the Chinese language, SPA said, though it did not detail their substance or monetary value.

Chinese President Xi Jinping touched down in Saudi Arabia on Wednesday for a visit that is likely to focus on energy ties but also follows months of tensions with the United States.

Xi, recently reanointed as leader of the world's second-biggest economy, arrived in the capital Riyadh, Chinese and Saudi state media said, for a three-day visit that will include talks with the Saudi rulers and other Arab leaders.

Saudi Foreign Minister Prince Faisal bin Farhan and Riyadh Governor Prince Faisal bin Bandar were among those who welcomed Xi at the airport, where a ceremonial purple carpet was laid out from the steps of the plane.