China, Saudi Arabia eye $65bn in deals.
On the first day of visit of King Salman to Beijing he oversaw the signing of deals potentially worth $65 billion and that for chinese foreign affairs analysts is a “win-win” situation for both countries. The deals consist of 35 projects that include covering productive capacity, trade, space industry, new energy and education. Moreover, as Dr. Degang Sun of the Institute of Shangai International Studies University said, “the two sides’ econmies are supplementary to each other” and this is proved by China’s “One Belt,One Road Initiative” and Saudi Arabia’s Vision 2030, which are two strategies compatible to each other. Concerning these strategies, China perceives Saudi Arabia as the principal state in implementing its strategy and Saudi Arabia will enhance the diversification and industrialization of the Saudi economy in the next decade with China’s investments and trade. He also said Saudi Arabia is “looking east” and China is “looking west”.