On the occasion of Chinese President Xi Jinping’s visit to the country, Chinese and Saudi businesses signed investment agreements for green hydrogen and solar energy.
On the occasion of Chinese President Xi Jinping’s visit to the country, Chinese and Saudi businesses signed investment agreements for green hydrogen and solar energy.
As US ties come under pressure, Xi is in Saudi Arabia to meet with Crown Prince Mohammed bin Salman and other Arab leaders. This trip demonstrates the region’s strong and expanding ties with Beijing.
A total of 34 investment agreements had been inked, including those in additional industries including information technology, cloud services, logistics, transportation, the medical sector, housing, and construction.
Neom, a city being built on the Red Sea, is where Saudi Arabia has begun building a sizable facility for green hydrogen. Green hydrogen, a fuel that is important for the global shift to cleaner energy, will be produced with the help of wind and solar energy.
According to Saudi Investment Minister Khalid Al-Falih, “The Kingdom possesses a strategic geographical location linking three continents” and overlooks some of the most significant water crossings and oil resources.
Saudi Arabia will begin the construction of a green hydrogen plant near Neom.
According to Xi’s editorial in the Saudi newspaper Al Riyadh, the two nations will improve their cooperation at the UN, the G20, and the Shanghai Cooperation Organization.
According to Raffaello Pantucci, a senior fellow at the S. Rajaratnam School of International Studies at Nanyang Technological University in Singapore, “it serves both Riyadh and Beijing to highlight they have other options to the US or important partnerships on the world stage that do not include the west.” Through its interactions with the region, China is demonstrating the viability of “an alternative world order,” he continued.
