Search Site

Trends banner

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Saudi Arabia, China explore trade, investments opportunities

Saudi Arabia and China explore trade and investment opportunities during a virtual meeting.
  • The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership
  • Saudi Arabia's exports to China, in the second quarter of 2022, amounted to about $16.8 billion

Riyadh, Saudi Arabia Saudi Arabia and China explored trade and  investment opportunities during a virtual meeting between the two countries on Thursday.

The meeting was co-chaired by Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, and Chinese Minister of Commerce Wang Wentao.

The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership between the two countries.

The two countries discussed investment opportunities and ways of consolidating cooperation.

The meeting reviewed the major economic developments between the two countries, as China is the main partner of the kingdom in commodity trade.

Saudi Arabia’s exports to China, in the second quarter of 2022, amounted to SAR63 billion (about $16.8 billion), which makes China the main destination for the kingdom’s exports.

The kingdom has topped the list of oil suppliers to China, since the beginning of the year so far, with the total quantity supplied to  China amounting to 49.84 million tons. 

In addition, Saudi Arabia is the largest partner for Chinese investments within the Belt and Road Initiative during the first half of 2022, with investments amounting to SAR20.6 billion ($5.5 billion), or approximately SAR3.5 billion (about $1 billion) per month.

The value of the kingdom’s exports to China, in 2021, exceeded about SAR190.9 billion (USD50.9 billion), which constituted 18.4 percent of the total Saudi exports  that year. 

Saudi Arabia’s exports to China, during the second quarter of 2022, amounted to SAR63.4 billion ($16.9 billion), while the value of the kingdom’s imports from China, during the second quarter of 2022, amounted to SAR33.75 billion ($9 billion).