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  • Saudi Arabia to expand teaching of China language with 800 more teachers amid growing demand

    Saudi Arabia is set to expand the teaching of the Chinese language by creating 800 teaching positions, amid the growing demand for learning the Chinese language in the Kingdom. According to China’s official news agency, Xinhua, the planned appointment of the 800 new teaching roles aligns with the spread of Chinese language classes across Saudi Arabia’s primary and middle schools. The move follows the recent successful deployment of 175 Chinese language teachers in the Kingdom, who reportedly began teaching last month. It is part of a landmark agreement struck in 2023 between Riyadh and Beijing in an effort to strengthen bilateral cooperation in language education.

  • Saudi Arabia Eyes Major Slice of China’s Tourism Market

    Saudi Arabia welcomed over 150,000 Chinese visitors last year, and it’s on track to boost those numbers to half a million this year with ambitious tourism and economic strategies in play. An investment of $800 billion is fueling the country’s drive to grow its global tourism appeal, with $500 billion specifically aimed at opening up the Kingdom to new markets like China. Chinese tourist groups will also benefit from easier access to Saudi Arabia due to its newly received Approved Destination Status from China. This initiative is part of the Kingdom’s strategy to make China its third-largest source of international tourists by 2030, with a target of attracting five million Chinese visitors by then.

  • Saudi Arabia to Cut Oil Supply to China Amid Weak Demand

    Weak demand in China will lead to lower supply from the world’s top crude exporter, Saudi Arabia, to the world’s largest crude importer in December, trading sources told Reuters on Monday. The drop in Saudi supply would come despite the fact that the Kingdom has reduced its official selling prices (OSPs) for crude loading in December for Asia. December will see a second consecutive month of lower Saudi deliveries to China, estimated at a total of 36.5 million barrels. This would be down from 37.5 million barrels expected this month, and 46 million barrels in October, according to trade data compiled by Reuters.

  • Goldman, JPMorgan Among China’s Picks for Saudi Dollar Bond Sale

    The sale of up to $2 billion will take place in Saudi Arabia’s capital, Riyadh, and likely happen next week, Bloomberg reported on Tuesday. The move is emblematic of China’s deepening financial ties with Saudi Arabia, the biggest economy in the Middle East, and signals Beijing’s backing for the kingdom’s ambitions to become a magnet for investment. The Chinese Ministry of Finance has hired several banks to manage the issuance of three- and five-year debt, said the people. The group also includes Bank of America, Bank of China, Deutsche Bank AG, HSBC Holdings Plc, Industrial and Commercial Bank of China, Standard Chartered Plc and First Abu Dhabi Bank PJSC.

  • China in the Middle East

    The Chinese don't pretend to be the teachers or the lecturers of Middle Eastern countries. If you look at the framing in the Chinese diplomatic playbook, a lot of the time, the Chinese diplomats will refer to the term “mutual learning of great civilizations.” So: China is a great civilization, and the Middle East also has great civilizations, so let's learn and cooperate with each other. That's a very different element in terms of China's relationship with the Middle East.

  • China’s MOF to issue up to $2b of dollar bonds in Saudi Arabia amid efforts to boost funding, opening-up

    China's Ministry of Finance (MOF) said on Tuesday that it would issue up to $2 billion of US dollar-denominated sovereign bonds in Riyadh, Saudi Arabia, during the week starting November 11, following approval by the State Council.  The move can help boost confidence in China's economy and sovereign credit among overseas markets while providing a new way for the Chinese government to raise funds, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Tuesday.

  • Where Saudi’s MBS Beats China’s Deng Xiaoping

    In just eight years, MBS has put the $930 billion Public Investment Fund on the map, starting from a $45 billion commitment to SoftBank Group Corp.’s Vision Fund in 2016. Last year, PIF became the world’s most active sovereign wealth fund in terms of fresh capital deployed, surpassing long-time champion Singapore’s GIC. The fund continues to be active in 2024, buying 40% in the UK department-store chain Selfridges and injecting $2 billion capital into Chinese PC maker Lenovo Group Ltd., to name a few. But the Saudi crown prince is also becoming more assertive. Foreigners that take his money are expected to contribute immediately to the local economy. As part of the $2 billion deal, Lenovo has pledged to open a manufacturing facility and establish a regional headquarters in Saudi Arabia, leading to the creation of 15,000 local jobs.

  • Saudi’s first China-focused ETF to become the largest in Middle East

    Saudi Arabia's first exchange-traded funds (ETFs) that track Hong Kong-listed shares, mainly Chinese firms, are expected to be the largest such funds in the Middle East. Trading of the product, which kicks off on Wednesday on the Saudi Stock Exchange, has raised more than $1.2 billion at the start, issuer Albilad Capital and its partner Hong Kong's CSOP Asset Management said. The initial size will surpass the current largest Islamic ETF - Al Rayan Qatar ETF - listed on the Qatar Exchange, LSEG data shows.

  • China’s Rise in Iraq’s Energy Sector: From Newcomer to Dominant Player

    Chinese energy companies emerged as dominant players in the Iraqi Oil Ministry’s May licensing rounds to auction 29 oil and gas blocks, securing 10 out of 13 oil and gas blocks. Shell was the only Western international oil company to participate, and it did not win any bids. Other Western and U.S. international oil companies showed no interest in bidding, despite improved fiscal terms of the contracts. The resounding success of Chinese firms underscores a significant shift, solidifying Beijing’s already strong position in Iraq’s energy landscape and presenting a substantial challenge to Washington’s strategic position in the region.

  • Russia, Iran, China could stoke post-election violence, US intelligence officials say

    Russia, China and Iran are intent on fanning divisive narratives to divide Americans ahead of the Nov. 5 U.S. elections and may consider fomenting violence after voters go to the polls, U.S. intelligence officials said on Tuesday. The officials, briefing reporters on U.S. election security, said foreign actors could consider physical threats and violence, and are highly likely to conduct disinformation operations to create uncertainty and undermine the election process.