Chinese Firms Ink $10 Billion in Investment Deals at Arab-China Conference

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Saudi Foreign Minister Faisal bin Farhan al-Saud (right) and Vice Chairman of the Chinese People's Political Consultative Conference Hu Chunhua attend 10th Arab-China Business Conference in Riyadh on June 11. Photo: VCG

Chinese companies inked $10 billion in investment deals with businesses and government bodies in the Arab world during a two-day conference that ended Monday, as the Middle East emerges as a hot destination for Chinese investors.

More than 30 pacts were signed at the 10th Arab-China Business Conference in the Saudi Arabian capital Riyadh, the state-run Saudi Press Agency reported Tuesday. The deals covered industries including technology, renewables, real estate, minerals, supply chains, tourism and health care.