{"id":577993,"date":"2022-12-12T04:00:42","date_gmt":"2022-12-12T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/"},"modified":"2022-12-12T04:00:42","modified_gmt":"2022-12-12T04:00:42","slug":"saudi-china-ties-grow-with-xi-visit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/","title":{"rendered":"Saudi-China ties grow with Xi visit"},"content":{"rendered":"

Big investments at the China-Arab summit<\/strong>: Some USD 50 bn in investment agreements were signed during Xi Jinping\u2019s visit to Saudi Arabia last week, Saudi Investment Minister Khalid Al Falih told Bloomberg<\/a>, remaining tightlipped on the details. He said that the agreements included both the private and public sectors, yet did not specify whether the provided investment figure involves attending Arab countries or just Saudi.<\/p>\n

We know some of the details about Saudi-China agreements:<\/strong> In a sign of warming ties between the two countries, Xi and Saudi King Salman inked<\/a> a \"comprehensive strategic partnership agreement\" that will \u201cfirmly support each other\u2019s core interests\u201d as well as a<\/p>\n

number of business deals, including one that could expand Huawei\u2019s role in the kingdom, and a USD 1.5 bn MoU<\/a> between Acwa Power and Power China. Xi also said Beijing could begin purchasing oil and gas in CNY, a key step towards internationalizing its currency and weakening the role of the USD in global trade.<\/p>\n

\n

Saudi Arabia is on track to be the fastest-growing G20 economy this year<\/strong> after beating expectations to post 8.8% growth in 3Q 2022, the country\u2019s statistics agency said<\/a> yesterday. The oil exporter said last week that it had raised its full-year GDP forecast to 8.5% and reported its first budget surplus in almost a decade. Saudi Arabia now expects to generate a SAR 16 bn (USD 4.3 bn) surplus next year, almost double<\/a> previous estimates of SAR 9 bn, according to its latest fiscal outlook (pdf)<\/a>.<\/p>\n

\n

The tanker traffic jam at the Turkish straits is beginning to clear: <\/strong>Oil tankers that have been held up at the Turkish straits on the back of a price cap on Russian oil are now being allowed through, Bloomberg<\/a> reported, citing a shipping official with knowledge of the matter. Ankara had been demanding that insurers of tankers transiting the straits provide proof of cover before the US and UK pushed it to change tack. Some 19 tankers were waiting to be cleared to pass through Bosphorus and Dardanelles yesterday, down from 27 tankers a day earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

Big investments at the China-Arab summit: Some USD 50 bn in investment agreements were signed during Xi Jinping\u2019s visit to Saudi Arabia last week, Saudi Investment Minister Khalid Al Falih told Bloomberg, remaining tightlipped on the details. He said that the agreements included both the private and public sectors, yet did not specify whether the […]<\/p>\n","protected":false},"author":1,"featured_media":577994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7328],"tags":[222,116,72,219,218,438],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-enterpriseam","tag-saudi-arabia","tag-turkey","tag-xi-jinping","wpautop","entry"],"acf":{"mongo_id":"96394287-5eb3-49dc-811d-c03d0de3ccfa","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/234.jpg","photo_position":"above","related_issue":[577967],"teaser":"","voice_url":""},"yoast_head":"\nSaudi-China ties grow with Xi visit - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi-China ties grow with Xi visit\" \/>\n<meta property=\"og:description\" content=\"Big investments at the China-Arab summit: Some USD 50 bn in investment agreements were signed during Xi Jinping\u2019s visit to Saudi Arabia last week, Saudi Investment Minister Khalid Al Falih told Bloomberg, remaining tightlipped on the details. He said that the agreements included both the private and public sectors, yet did not specify whether the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-12T04:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/234.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Saudi-China ties grow with Xi visit\",\"datePublished\":\"2022-12-12T04:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\"},\"wordCount\":344,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/234.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Around the World\",\"China\",\"EnterpriseAM\",\"Saudi Arabia\",\"Turkey\",\"Xi Jinping\"],\"articleSection\":[\"AROUND THE WORLD\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/saudi-china-ties-grow-with-xi-visit\/\",\"name\":\"Saudi-China ties grow with Xi visit - 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The president said that Arab nations and Beijing will\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588638,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/gulf-wealth-funds-pivot-to-china\/","url_meta":{"origin":577993,"position":1},"title":"Gulf wealth funds pivot to China","author":"enterpriseam admin","date":"14 June 2023","format":false,"excerpt":"Gulf sovereign funds plan USD 1-2 tn investment in China by 2030","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/698.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588557,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/13\/riyadh-beijing-cement-ties-with-usd-10-bn-in-mutual-investment\/","url_meta":{"origin":577993,"position":2},"title":"Riyadh, Beijing cement ties with USD 10 bn in mutual investment","author":"enterpriseam admin","date":"13 June 2023","format":false,"excerpt":"The 30+ agreements span renewables, tech, agriculture, and more","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/649.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590465,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/saudi-arabia-turkey-strengthen-ties-with-fresh-economic-agreements\/","url_meta":{"origin":577993,"position":3},"title":"Saudi Arabia, Turkey strengthen ties with fresh economic agreements","author":"enterpriseam admin","date":"19 July 2023","format":false,"excerpt":"Erdogan is visiting KSA, Qatar and the UAE this week to secure new investment","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/789.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582671,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/12\/saudi-iran-agree-to-restore-diplomatic-relations\/","url_meta":{"origin":577993,"position":4},"title":"Saudi + Iran agree to restore diplomatic relations","author":"enterpriseam admin","date":"12 March 2023","format":false,"excerpt":"Riyadh + Tehran to normalize ties in landmark China-brokered pact: Bitter regional foes Saudi Arabia and Iran have agreed to restore diplomatic ties in a landmark agreement brokered by China. The pact will see the two countries reopen embassies within two months and reactivate a security cooperation agreement, according to\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Saudi-Iran-China-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547445,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/usd-8-bn-from-ksa-and-much-morepossibly-usd-30-bn-more\/","url_meta":{"origin":577993,"position":5},"title":"USD 8 bn from KSA and much more\u2026Possibly USD 30 bn more.","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"Egypt signed 14 investment agreements with Saudi Arabia worth USD 7.7 bn during Crown Prince Mohamed bin Salman\u2019s visit to Cairo yesterday, the Madbouly cabinet said in a statement yesterday. The agreements cover key sectors including energy, tech, food, and pharma and were signed during a meeting of Egyptian and\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/268.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577993"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577993\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577994"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577993"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577993"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}