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  • China and Saudi Arabia are getting closer. Should the US be worried?

    Analysts, however, say that the Middle East is unlikely to become an arena for US-Chinese rivalry, given Beijing’s economy-oriented focus and its aversion to playing regional politics. The Saudi-China relationship is therefore unlikely to become a full-blown alliance. Saudi Arabia is China’s biggest supplier of crude, and China is the biggest destination of Saudi oil exports. The kingdom’s economy is nonetheless tied to the US as its currency is pegged to the dollar and the sale of its oil is conducted in that currency. Saudi Arabia’s defense infrastructure is also heavily reliant on American equipment.

  • Unexpected beneficiary: The implications of the China-brokered Saudi-Iran deal for Pakistan

    For Pakistan, in particular, the tempering of the protracted Saudi-Iran rivalry could not only help lessen long-running domestic sectarian frictions but also alleviate pressure on Pakistani decisionmakers to involve Islamabad in contentious proxy tussles elsewhere in the Muslim world, as happened in Yemen. That said, even if the still fragile Saudi-Iranian rapprochement holds, Pakistan’s ability to improve its ties with the Islamic Republic will still be kept in check by concerns over further antagonizing the U.S.

  • Saudi Arabia Displays its Culture and Heritage in China

    Saudi Tourism Authority (STA) has successfully concluded its first roadshow in China with 13 partners including DMCs, hoteliers and airline partners in attendance. The roadshow showcased the country’s rich cultural and heritage offerings and why Saudi is the perfect travel destination for Chinese travelers. A series of events, meetings, round table discussions and networking events were hosted, resulting in over twenty strategic partnership announcements.

  • Saudi Arabia Displays its Culture and Heritage in China

    Saudi Tourism Authority (STA) has successfully concluded its first roadshow in China with 13 partners including DMCs, hoteliers and airline partners in attendance. The roadshow showcased the country’s rich cultural and heritage offerings and why Saudi is the perfect travel destination for Chinese travelers. A series of events, meetings, round table discussions and networking events were hosted, resulting in over twenty strategic partnership announcements.

  • Latest Saudi Aramco’s Oil Investments in China Strengthen Its Market Position

    The $3.6 billion investment to take a 10% stake in private processor Rongsheng Petrochemical Co. is a watershed moment for China’s independent refining sector, a loose grouping crew of companies that range from sophisticated refineries rivaling state-owned Sinopec and PetroChina, to smaller companies frequently tangled in tax and legal battles.

  • Saudi Arabia takes step to join China-led security bloc, as ties with Beijing strengthen

    Saudi Arabia’s cabinet approved a decision to join a China-led security bloc, strengthening Riyadh’s eastern ties in a further step away from U.S. interests. The state-owned Saudi Press Agency said that, in a session presided by King Salman bin Abdulaziz, the Saudi cabinet on Tuesday approved a memorandum awarding Riyadh the status of dialogue partner in the Shanghai Cooperation Organization — a political, security and trade alliance that lists China, Russia, India, Pakistan and four other central Asian nations as full members

  • Saudi Arabia takes step to join China-led security bloc, as ties with Beijing strengthen

    Saudi Arabia’s cabinet approved a decision to join a China-led security bloc, strengthening Riyadh’s eastern ties in a further step away from U.S. interests. The state-owned Saudi Press Agency said that, in a session presided by King Salman bin Abdulaziz, the Saudi cabinet on Tuesday approved a memorandum awarding Riyadh the status of dialogue partner in the Shanghai Cooperation Organization — a political, security and trade alliance that lists China, Russia, India, Pakistan and four other central Asian nations as full members

  • Saudi’s China refinery deal covers crude oil storage and petrochemical supplies

    Saudi Aramco's new refinery deal to buy a 10% stake in private Chinese chemical group Rongsheng Petrochemical includes agreements on crude oil storage in eastern China and the supply of plastics and petrochemicals to the Middle East energy giant. Saudi Aramco (2222.SE) said on Monday it would buy the stake in Rongsheng Petrochemical (002493.SZ), controlling owner of Zhejiang Petrochemical Corp (ZPC) - operator of China's largest refinery of 800,000 barrels per day (bpd) - and agreed to a 20-year crude supply deal.

  • China spent $240 billion bailing out ‘Belt and Road’ countries – study

    China has lent hundreds of billions of dollars to build infrastructure in developing countries, but lending has tailed off since 2016 as many projects have failed to pay the expected financial dividends. "Beijing is ultimately trying to rescue its own banks. That's why it has gotten into the risky business of international bailout lending," said Carmen Reinhart, a former World Bank chief economist and one of the study's authors.

  • China’s Xi speaks with Saudi crown prince, supports Saudi-Iran talks

    China's President Xi Jinping spoke by phone with Saudi Crown Prince Mohammed bin Salman Al Saud, discussing a wide range of subjects including supporting follow-up talks between Saudi Arabia and Iran, state media CCTV reported on Tuesday. Xi recently helped broker a surprise deal between Iran and Saudi Arabia, Middle East rivals, earlier this month to restore diplomatic ties, in a display of China's growing influence in the region which is being warily watched by the United States.