Entrepreneurs and elites from China and Saudi Arabia gathered in the Saudi capital Riyadh on Thursday to discuss the huge business potentials that the China-proposed Belt and Road Initiative may bring.
Chinese ambassador to Saudi Arabia Li Chengwen called Saudi Arabia “China’s important partner in the Middle East and Gulf region.”
The Belt and Road Initiative, proposed by Chinese President Xi Jinping in 2013, refers to the New Silk Road Economic Belt and the 21st Century Maritime Silk Road.
It’s aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes.
Data from China’s Ministry of Commerce showed that countries along the Belt and Road founded 1,752 enterprises in China in the first ten months of 2015, and the related investment totaled 6.49 billion US dollars.
Among them, Saudi Arabia invested 277 million US dollars.