China will issue $2 billion in U.S. dollar bonds in Saudi Arabia starting November 11, 2024: strengthening economic cooperation and investment ties between China and Saudi Arabia 🌍

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China plans to issue U.S. dollar bonds in Saudi Arabia starting from November 11, 2024, marking the first issuance in foreign currency since 2021. The Chinese Ministry of Finance announced the sale of up to $2 billion in bonds in Riyadh.

This decision is linked to the strengthening of relations between China and Saudi Arabia, which are actively developing economic cooperation by aligning their initiatives, such as the Belt and Road and Vision 2030.

In 2023, bilateral trade between the countries reached $97 billion, and Chinese investments in Saudi Arabia rose to $16.8 billion. Both countries are also exploring joint projects in renewable energy and technology.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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