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  • As US watches, China and Saudi Arabia shy away from defense deals during Xi’s visit

    That the White House has sought to advance military cooperation with Gulf states and continues to provide defensive weapons and intelligence even as it says it is reevaluating its relationship with Saudi Arabia over the OPEC+ dispute is perhaps the clearest sign that the Biden administration is wary about ceding too much of its security role in the Gulf. Current and former US officials say air defenses remain Arab Gulf states’ most sought-after military hardware as they face the threat of Iran’s missiles and drones. But China’s designs on Taiwan and Russia’s war in Ukraine have placed even greater strain on typically thin US stockpiles.

  • As US watches, China and Saudi Arabia shy away from defense deals during Xi’s visit

    That the White House has sought to advance military cooperation with Gulf states and continues to provide defensive weapons and intelligence even as it says it is reevaluating its relationship with Saudi Arabia over the OPEC+ dispute is perhaps the clearest sign that the Biden administration is wary about ceding too much of its security role in the Gulf. Current and former US officials say air defenses remain Arab Gulf states’ most sought-after military hardware as they face the threat of Iran’s missiles and drones. But China’s designs on Taiwan and Russia’s war in Ukraine have placed even greater strain on typically thin US stockpiles.

  • China shipyards feast on record LNG tanker orders as South Korea builders are full up

    China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked. Three Chinese shipyards - only one of them having experience building large LNG tankers - won nearly 30% of this year's record orders for 163 new gas carriers, claiming ground in a sector where South Korea usually captures most of the business.

  • Cooperation areas between China, Saudi Arabia now beyond oil to include new-energy sectors as firms ink flurry of deals

    Deals include $10billion worth of projects with investors and financiers, and an additional $33 billion with Chinese EPC contractors and suppliers, covering multiple major renewable and seawater desalination projects around the world, the company said in a press release sent to the Global Times over the weekend.

  • Saudi Arabia and China sign strategic deals as Chinese President Xi Jinping heralds ‘new era’ in ties

    It includes a strategic partnership agreement and a harmonisation plan between the kingdom’s Vision 2030 that aims to wean the economy off a reliance on oil and China’s Belt and Road Initiative. Memorandums of understanding were also signed on hydrogen energy, solar power, direct investments and housing.

  • Saudi Arabia, China sign agreements on hydrogen energy, direct investment

    Saudi Arabia and China have signed several memorandums of understanding including on hydrogen energy and encouragement of direct investment during Xi Jinping’s visit to the Kingdom, the official Saudi Press Agency (SPA) reported on Thursday.

  • China’s Xi Jinping Visit to Saudi Arabia Brings Pledge of More Oil Trade

    China is willing to expand oil trade with Saudi Arabia, President Xi Jinping said during a visit to the kingdom that reinforced ties between the world’s No. 2 economy and its top supplier of crude. In a meeting in Riyadh on Thursday, Xi and Crown Prince Mohammed bin Salman also agreed to hold summits every two years and upgraded the relationship to a comprehensive strategic partnership, the official Xinhua News Agency reported. The Chinese leader is set to meet more Arab leaders on Friday.

  • China and Saudi Arabia Sign Strategic Partnership as Xi Visits Kingdom

    Under the agreement, the two sides agreed to hold meetings between their heads of state every two years, according to the Chinese news agency Xinhua. Beijing also agreed to list Saudi Arabia as a destination for group travel and to expand cultural and people-to-people exchanges, Mr. Xi said on Thursday during his talks with Prince Mohammed.

  • Saudi Arabia gathers China’s Xi with Arab leaders in ‘new era’ of ties

    Chinese President Xi Jinping met Gulf Arab leaders in Riyadh on Friday in the first of two "milestone" Arab summits showcasing Saudi Arabia's Crown Prince Mohammed bin Salman as an aspiring leader of the Middle East and key partner for global powers. Xi, who has been welcomed in Saudi Arabia with pomp and ceremony, signed a strategic partnership pact with the world's top oil exporter a day before Friday's meeting with the energy-rich, six-nation Gulf Cooperation Council.

  • Saudi’s ACWA Power signs $1.5 bln agreement with Power China

    Saudi Arabian private utility ACWA Power (2082.SE) said it has signed a $1.5 billion agreement with Power China, Al-Arabiya television station reported on Friday.