This week, a business conference in Riyadh will bring together Chinese entrepreneurs and investors to discuss expansion and financing opportunities amid warmer diplomatic relations.
The 10th Arab-China Business Conference will be held in Saudi Arabia, the first since Chinese President Xi Jinping’s ‘epoch-making’ visit to the Gulf state, which Beijing called the Arab world’s biggest diplomatic undertaking.
Two days after U.S. Secretary of State Antony Blinken visited Saudi Arabia, the gathering on Sunday and Monday will repair relations with Washington’s closest Middle Eastern partner.
The U.S. is concerned about security and sensitive high-tech cooperation between Riyadh and Beijing.
According to one source, Greater China’s largest business delegation to Saudi Arabia will attend the business conference.
The meeting between the world’s second-largest economy and Gulf energy titans comes as economic downturn and geopolitical concerns have made financing and expansion difficult for many Chinese funds and companies.
“From the perspective of both capital and new market, the Middle East, Saudi Arabia are really good new choices for Chinese companies and investors,” said Hermitage Capital president Henry Zhang.
Zhang, who will go to Riyadh and attend the conference for the first time with several portfolio businesses, expects the trip will assist his investees in investigating the local market and help him grasp Middle Eastern investors’ true wants for Chinese capital.
“Many Chinese funds have rushed to the Middle East to find new investors since late last year.” In light of this, we must consider what potential investors desire and how we may differentiate ourselves.”
