From Manufacutring to Movies to Stock Markets, China and Saudi Arabia Sign a Flurry of New Development Deals

The Saudi Stock Exchange signed a new partnership with the Shanghai Stock Exchange this week, one a number of new deals signed between Chinese and Saudi companies. FAYEZ NURELDINE / AFP

The pace of news business development deals between Saudi Arabia and China appears to be gaining momentum amid a slate of new announcements this week, highlighting increasingly close financial ties between the two countries:

  • MOVIES: Leading Saudi Arabian distributor CineWaves Films has opened an office in China as part of a strategy focusing on international expansion and opening up opportunities for Saudi films worldwide. (SCREEN DAILY)
  • ENERGY: Saudi energy giant ACWA Power signed a memorandum of understanding with the Bank of China that will facilitate the development of green hydrogen, water desalination and other initiatives. (ARAB NEWS)
  • SOLAR: China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil. (BLOOMBERG)
  • STOCKS: The Saudi Tadawul Group, which owns the Saudi stock exchange Tadawul, and the Shanghai Stock Exchange signed a memorandum of understanding to “promote mutual development and cooperation.” (AL-MONITOR)
by Eric Olander

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