Saudi Arabia and China on Sunday signed 30 investment agreements totaling about $10 billion across various sectors to deepen their bilateral relations, according to the Saudi Arabian Investment Ministry.
The agreements were signed during the Arab-China Business Conference in Riyadh, which covered the technology, renewables, agriculture, real estate, minerals, supply chains, tourism, and health care sectors.
“The crown prince has continually amplified efforts to enhance the long-standing and advanced partnership between the Arab world and China in all sectors,” Saudi foreign minister Prince Faisal bin Farhan said.
Among the accords is a $5.6 billion deal between the Saudi Investment Ministry and Chinese electric car maker Human Horizons to collaborate on automotive research and manufacturing, Arab News reported….