Sun Nov 19 2017, 11:33:26 +03

King Salman in Beijing, Saudi Arabia and China sign deals worth $65 billion

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(Beijing, 17 Jumada II 1438H) President Xi Jinping of the People's Republic of China, on Thursday received Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in the Great Hall of People in Beijing. An official welcoming ceremony was held for the Custodian of the Two Holy Mosques on the occasion of his current visit to China. Memorial photos were taken. Guards of honor were also reviewed.


Meanwhile, China and Saudi Arabia signed memorandums of understanding and letters of intent potentially worth about $65 billion during Saudi King Salman’s visit to Beijing, a senior Chinese diplomat said.


According to Al Arabiya News, Deputy Chinese Foreign Minister Zhang Ming said the agreements involved investment, energy, space and other areas, but did not give details. King Salman, who has overseen the launch of an ambitious economic reform plan since his accession two years ago, is on a month-long Asian tour.


The visits to countries that are some of world’s fastest growing importers of Saudi oil aim to promote investment opportunities in the kingdom, including the sale of a stake in its giant state firm Saudi Aramco. Beijing is seeking greter ties with the Kingdom of Saudi Aabia in trade, defense and investment.