Fifth China-Arab States Expo seals $24 bn business deals

A total of 277 deals worth approximately 156.7 billion yuan ($24 billion) have been signed at the fifth China-Arab States Expo in northwest China’s Ningxia Hui Autonomous Region.

The deals cover various fields including electronic information, clean energy, new materials, green food and tourism cooperation.

Among them, investment of nearly 154 billion yuan was pooled to support 199 projects, while 24 trade projects worth 2.75 billion yuan were also inked during the expo.

At the national level, eight cooperational projects were signed at this Expo, with a total investment of 11.18 billion yuan, including Indonesia’s Cirata Floating Photovoltaic Power Plant project and Red Sea integrated smart energy investment project.

Meanwhile, eight provinces and cities, including Beijing, Tianjin, Zhejiang, Henan, and Guangdong, have signed 12 investment projects with Arab countries and other countries along the Belt and Road routes, with a total investment of 7.43 billion yuan.

Three policy reports were released during the Expo, covering economic and trade relations between China and Arab States and South-South cooperation.

This year’s expo is held both online and offline for the first time in history. More than 1,000 domestic and overseas enterprises have registered as exhibitors for offline and virtual events at the expo.

Since its inauguration in 2013, the biennial expo has attracted more than 5,000 enterprises from around 110 countries. In 2019, a total of 287 deals worth about 185.42 billion yuan were signed at the fourth China-Arab States Expo.

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