The China-Saudi Investment Conference kicked off in Beijing yesterday,with Investment Minister Khaled Al Falih stressing on the necessity of bolstering green transition partnerships with Chinese companies, South China Morning Post reported yesterday. Al Falih said the kingdom’s efforts to draw level on clean energy transition provides China with a greater potential to boost investment and involvement in the region’s renewables development.

What he said: “We invite Chinese companies to participate in the green transition supply chain … in addition to investments, whether it is [foreign direct investment] or in our capital, in the Kingdom of Saudi Arabia, there is significant project workload that requires participation from China’s project execution, project management companies,” he said.

Some USD 25 bn in agreements as the icing on cake: More than 60 MoUs and agreements valued at USD 25 bn were signed during the conference, Arab News reported yesterday.

Where? Energy, mining, logistics, technology and others. Among them:

  • An agreement worth up to USD 7.5 bn between Ajlan & Bros Holding Group and China’s Oriental Energy on manufacturing.
  • A USD 2 bn agreement between the Investment Ministry and China’s state-owned CRRC Group to develop projects focused on renewable energy and sustainable mobility.
  • Saudi Esports Federation and Chinese esports tournament operator VSPO inked an MoU worth USD 8.5 bn to promote cooperation and participation in eSports.

A partnership that is innovation-focused: China’s Commerce Vice Minister Li Fei told the conference that Beijing’s collaboration with Riyadh should continue to focus on innovation, “embrace the new wave of technological revolution and industrial transformation, strengthen partnerships in cutting-edge fields, such as artificial intelligence, life sciences, quantum information, and high-end manufacturing”.

AND- Tadawul + Shenzhen:Tadawul has signed an MoU with the Shenzhen stock exchange (SZSE) — one of China’s three independent exchanges — that could pave the way for dual listings along with cooperation in areas of fintech, ESG, investor relations and research, Argaam reports. A similar MoU was signed between Tadawul and the Shanghai stock exchange in September, while the first exchange-traded fund tracking Saudi equities made its debut in Hong Kong last month.

FINALLY- Deepening ties with Canada: Saudi Fund for Development CEO Sultan Al-Marshad met yesterday with Canada’s minister of international development, Ahmed Hussen.

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