Wednesday, March 15, 2017

Stronger cooperation helps tap development potential for China, Saudi Arabia

by Chen Shilei

Xinhua| 2017-03-15

BEIJING, March 15 (Xinhua) -- As some scapegoat globalization for their sluggish economy, others remain open and cooperative to explore business opportunities and reap win-win fruits.
Saudi King Salman bin Abdulaziz Al Saud starts a state visit to China Wednesday, which is expected to be a main course of the 81-year-old king's one-month Asia tour.
Chinese President Xi Jinping paid a state visit to Saudi Arabia in January 2016, during which the two countries lift their ties to a comprehensive strategic partnership.
The China-Saudi Arabia ties can develop in a rapid and sound way because the Mideast country sees China's rise as an opportunity and appreciates China's proposals for regional and cross-continental development.
Saudi Arabia is one of the first countries that have responded positively to China's Belt and the Road Initiative, which was proposed by Xi in 2013 with an aim to build a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes by land and sea.
So far, Chinese businesses have helped build 56 economic and trade cooperation zones in 20 countries along the routes with a combined investment surpassing 18.5 billion U.S. dollars, generating nearly 1.1 billion dollars in tax revenue and 180,000 jobs in those countries.