Saudi Arabia signs $65 billion deals with China
Business & Technology
Top business and technology news for March 16, 2017. Part of the daily The China Projectย news roundup "A craft beer bully in China."
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China, Saudi Arabia eye $65 billion in deals as king visitsย / Reuters
On Thursday, Saudi Arabiaโs King Salman signed deals with China worth as much as $65 billion involving everything from space to renewable energy markets. The deals included a memorandum of understanding for the Saudi kingdom to participate in Chinaโs Chang E-4 Moon mission and a partnership agreement for manufacturing drones. King Salman told Chinese president Xi Jinping that he hoped China could play a greater role in Middle East affairs โto promote global and regional peace, security and prosperity.โ -
AC Milan bidder said to lose China state-owned firm backingย / Bloomberg
Haixia Capital Management, an investment firm controlled by State Development & Investment Corporation (SDIC ๅฝๅฎถๅผๅๆ่ตๅ ฌๅธ), will no longer purchase an interest in Silvio Berlusconiโs AC Milan soccer club, according to people familiar with the matter. Regulators in China have intensified their scrutiny of overseas investments, particularly in sports and entertainment. Last week, Peopleโs Bank of China governor Zhou Xiaochuan saidย that some purchases of overseas sports and entertainment assets didnโt fit with Chinaโs industrial policy because they โtriggered some complaints abroad.โ The AC Milan deal was first announced in August last year.
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