Here’s a look at deals signed by Saudi Arabia, China

Saudi Arabia signed 11 economic cooperation agreements with China at the Saudi-Chinese Investment Forum on Friday, Saudi Press Agency (SPA) reported.

During Crown Prince Mohammed bin Salman’s visit to the Asian country, the Saudi delegation signed the following deals:  

1) Saudi Aramco signed a deal to acquire 9 percent of the Ji Jiang Petrochemicals Project for the production of refining, ethylene and barilene (PX) products.

2) Aramco also signed a deal with North China Industrial Company and Xincheng Investment Company (NORINCO) of Panjin City, Liaoning Province, to set a joint venture specialized in the fine chemical and material engineering industry.

3) The two governments signed a deal to cooperate in maritime transport.

4) A Memorandum of understanding (MoU) between the Saudi Ministry of Energy, Industry and Mineral Resources, and the Chinese National Development and Reform Commission was signed to boost priority projects in production capacity and investment (Group II).

5) The Saudi Ministry of Commerce and Investment signed an MoU with the Chinese Ministry of Commerce to form the Trade Facilitation Task Force.

6) The Saudi Fund for Development inked a government loan agreement with the Chinese Ministry of Finance for building and equipping three hospitals in the city of Yanbian, Jilin Province.

7) A similar government loan was signed for the purpose of reconstruction and rehabilitation of earthquake-affected areas in Sichuan Province.

8) The Saudi Ministry of the Interior and the Chinese Ministry of Public Security inked a cooperation deal on countering cybercrime.

9) The Public Investment Fund (PIF) signed an MoU with the China National Energy Authority on investment in renewable energy.

10) A cooperation MoU was signed by the Saudi Authority for Intellectual Property (SAIP) and China’s National Intellectual Property Administration (CNIPA) on intellectual property rights.

11) Acwa Power chairman Mohammed Abunyan signed a deal with Director General of Silk Road Fund Wang Yanzhi to invest in several renewable energy projects.