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15 maj 2018 - 08:01:41
With huge market potential and unique natural resources, Arab economies are complementary to China," says Chen Zhou, vice president of the China Council for the Promotion of International Trade. "The new cooperation not only allows China to give full play to its competitive industries but helps Arab countries improve infrastructure and build a more sophisticated economic structure."


Abdulrahman al-Saleh, adviser to the Minister of Housing of Saudi Arabia, said he backed such cooperation as it met the needs of the country to transform the economy. Saudi Arabia released an ambitious plan last year to wean off reliance on oil Cheap Nike Vapormax Triple White , and to develop education, the arms industry, real estate and tourism.


At the ongoing China-Arab States Expo held in Yinchuan, capital of Ningxia Hui Autonomous Region, 22 contracts on industrial capacity cooperation were signed to pour 17.1 billion yuan (more than 2.5 billion U.S. dollars) into projects ranging from infrastructure to textile and food processing in countries including Oman, United Arab Emirates and Iraq.


Besides traditional projects on energy and resources Cheap Nike Vapormax Black , Chinese and Arab businesses have started to explore more sectors, such as chemical industry, telecommunication and manufacturing, says Li Shaotong, an official of the Ministry of Commerce.


The global drive of China's high tech sectors, including equipment manufacturing and clean energy Cheap Nike Vapormax White , is promising, Chen says.


Driven by robust industrial cooperation, China-Arab investment is surging. A total of 1.1 billion U.S. dollars of non-financial direct investment was made by Chinese companies in Arab states in 2016, up 74.9 percent year on year.


China has signed agreements on industrial capacity cooperation with 37 countries around the world, including Arab countries, says Liu Xia Cheap Nike Vapormax Plus , an official of the National Development and Reform Commission.


By the end of 2016, two Chinese policy banks had issued loans worth 110 billion U.S. dollars for overseas corporate investment along the Belt and Road, and Chinese banks had set up 62 branches in 26 countries.


Running until Saturday, the four-day biennial expo is a significant platform for China and Arab countries to bolster ties.


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