Saudi Arabia, China to set up $20 bln investment fund

Saudi Arabia and China plan to establish and operate a $20 billion investment fund, the Kingdom’s energy minister Khalid Al-Falih told Reuters on the sidelines of a Chinese-Saudi investment forum held in Jeddah.

Both parties agree on sharing costs and profit on a 50:50 basis, he added.

Another 11 agreements worth about $20 billion are expected to be signed between the two countries, Al-Falih said, offering no other details.