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  • Saudi-China Collaboration in the Context of a Circular Carbon Economy: Priorities and Opportunities in the Globalization of Hydrogen Markets

    Developing clean hydrogen industries and markets are strategically crucial for Saudi Arabia and China to achieve their net-zero climate goals. Saudi Arabia has made significant progress in hydrogen development from extraction to commercialization. Different options for galvanizing clean hydrogen production are being explored, with the goal of reaching four million tons of clean hydrogen annually by 2030, most of which will be exported to major energy consumers in East Asia and Europe. China is the world’s largest producer and consumer of hydrogen. The construction of an integrated hydrogen industry by 2035 will promote the use of hydrogen across the transportation, energy storage, and industrial sectors.

  • More than 60 deals worth $26.5B signed at Saudi-China Investment Conference

    Saudi Arabia and China signed on Dec. 12 more than 60 memorandums of understanding (MoUs) and investment agreements with a total value exceeding $26.5 billion.   The deals cover key sectors and were signed in the presence of Minister of Investment Khalid Al-Falih and Chinese Vice Minister of Commerce Li Fei, on the sidelines of China-Saudi Investment Conference.   The conference witnessed the attendance of nearly 1,200 officials from both the government and private sectors of both countries.

  • Perspective: The Saudi-China Deal Tells Us What Autocracies Want From Each Other

    “One important aspect of China’s overtures toward Saudi Arabia is China’s concern that United States venture capital investments—which have been important sources of capital and expertise for China’s technology sector—are drying up. The U.S. is currently considering new restrictions on outbound investments toward China. Saudi Arabia’s sovereign wealth fund has been plowing massive investments into technology companies in an attempt to diversify the Saudi economy away from fossil fuels, and China likely is exploring whether Saudi Arabia can help replace the U.S. as an investor. However, Saudi technology investments have a mixed track record at best.”

  • Factbox: Saudi-China energy, trade and investment ties

    Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, with imports totalling 73.54 million tonnes (1.77 million barrels a day) in the first 10 months of 2022, worth $55.5 billion, Chinese customs data shows. Oil imports last year amounted to 87.56 million tonnes, worth $43.9 billion, making up 77% of China's total merchandise imports from Saudi Arabia.

  • Factbox: Saudi-China energy, trade and investment ties

    4 minute readDecember 6, 20227:11 AM ESTLast Updated a day ago Factbox: Saudi-China energy, trade and investment ties Reuters Chinese President Xi Jinping shakes hands with Saudi Arabia's Deputy Crown Prince Mohammed bin Salman during the G20 Summit in Hangzhou, Zhejiang province, China September 4, 2016. REUTERS/Damir Sagolj Dec 6 (Reuters) - Saudi Arabia will host a China-Arab summit on Dec. 9 attended by Chinese President Xi Jinping, with the leaders of the two countries expected to discuss trade ties and regional security. Xi's visit comes at a time when U.S.-Saudi ties are at a nadir, uncertainty weighs on global energy markets with the West imposing a price cap on Russian oil and as Washington warily eyes China's growing influence in the Middle East. Advertisement · Scroll to continue Report an ad ADVERTISING The Chinese delegation is expected to sign dozens of agreements with Saudi Arabia and other Arab states covering energy, security and investments, diplomats have told Reuters.