Chinese investors flock to Riyadh conference seeking new markets, capital
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HONG KONG/RIYADH : Chinese entrepreneurs and investors are flocking to Riyadh this week to attend a business conference, which will bring together business and government leaders aiming to explore expansion and fundraising opportunities, amid warming diplomatic relations.
Saudi Arabia will be hosting the 10th Arab-China Business Conference, the first such forum since Chinese President Xi Jinping's 'epoch-making' visit to the Gulf state, which Beijing described as the biggest diplomatic initiative in the Arab world.
The gathering on Sunday and Monday will take place two days after U.S. Secretary of State Antony Blinken visited Saudi Arabia as Washington works to mend frayed ties with its closest ally in the Middle East.
Deepening cooperation between Riyadh and Beijing in security and sensitive high-tech has been a major U.S. concern.
The business conference will draw about 2,000 attendees from Greater China, in what will be one of the region's biggest-yet business delegation to Saudi Arabia, according to one person with direct knowledge of the matter.
