BEIJING — China and Saudi Arabia Thursday signed memorandums of understanding and letters of intent potentially worth about $65 billion during Saudi King Salman’s visit to Beijing, a senior Chinese diplomat said.
Deputy Chinese Foreign Minister Zhang Ming said the agreements involved investment, energy, space and other areas, but did not give details.
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. The visits to countries that are some of world’s fastest growing importers of Saudi oil aim to promote investment opportunities in the kingdom, including the sale of a stake in its giant state firm Saudi Aramco.
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Source: VOA News Online/Reuters