Projects worth $2.6b inked at China-Arab States forum

YINCHUAN - Projects with total investment of 17 billion yuan ($2.6 billion) were signed at a forum on industrial capacity cooperation between China and Arab States.

The 22 projects, covering the infrastructure, mining, energy and chemical, textile, food, agriculture, internet and tourism sectors, were inked during the capacity cooperation forum, which was held for the first time during the ongoing China-Arab States Expo in Yinchuan city, capital of Northwest China's Ningxia Hui autonomous region.

According to a report issued at the forum, China's direct investment in Arab countries grew to more than $2.2 billion in 2015 from $788 million in 2010.

By the end of 2015, the accumulated direct investment from China in Arab countries exceeded $14.6 billion, up more than 27 percent year-on-year, the report said.

Following the establishment of an economic and trade cooperation zone between China and Egypt, China is building industrial parks with Saudi Arabia and Oman.

The four-day China-Arab States Expo will focus on trade in commodities and services, as well as cooperation in technology, investment and tourism. The Belt and Road will be highlighted during the expo, and forums on high-speed railways, logistics and credit will be held.

Executives from 1,080 companies and nearly 5,000 exhibitors covering 31 industries ranging from transportation to big data will attend.

Sponsored by the Ministry of Commerce, the China Council for the Promotion of International Trade and the regional government of Ningxia, the biennial expo has been held three times since 2013.