Saudi King visits China, signs deals worth up to $65 billion

By Katherine Feng

Saudi Arabia’s King Salman oversaw the signing of deals potentially worth $65 billion at the start of his visit to Beijing on Thursday (March 16), as the world’s largest oil producer looks to cement ties with the world’s second largest economy.

The octogenarian monarch, who has overseen the launch of an ambitious economic reform plan since his accession two years ago, is on a monthlong Asian tour.

After the signing ceremony, Chinese Deputy Foreign Minister Zhang Ming said the memorandums of understanding and letters of intent were potentially worth about $65 billion, involving everything from energy to space, but he did not give details.

The two leaders later attended the closing ceremony of the Roads of Arabia historical relics exhibition at the National Museum of China.

The exhibition kicked off on Dec. 20 last year, state run Xinhua news agency reported, adding that it was the first time for Saudi archaeological relics to be displayed in China.

 

(REUTERS)

 
 
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