China becomes largest investor in Arab region

Updated 2017-07-24 10:40:54 Global Times

Exports labor, tech to key Belt and Road area

China reportedly become the largest investor in the Arab region in 2016, with investment worth 199.63 billion yuan (.5 billion), representing 31.9 percent of market share, surpassing the US and the United Arab Emirates (UAE).

In 2016, Arab countries attracted .8 billion in foreign direct investment (FDI) in total, the Xinhua News Agency reported on July 19, citing a report by the Arab Investment and Export Credit Guarantee Corp.

China was followed by the UAE at 102.86 billion yuan or 16.4 percent, and the US at 47.37 billion yuan.

"The growth was driven by the Belt and Road (B&R) initiative, considering the region is a crucial junction along the B&R route," Chen Fengying, a research fellow at the China Institute of Contemporary International Relations, told Global Times on Sunday.

The Middle East region is eyeing economic transformation through industrial cooperation, an area in which China can make its own contribution, Chen said. For example, China and Egypt are preparing to establish a Special Economic Zone Development in Egypt to drive the development of the Arab country's trade and economy, she said.

"In terms of economic structure, China and Arab countries are highly complementary, which provides great potential for trade," Wang Jun, an expert at the China Center for International Economic Exchanges, told the Global Times on Sunday, noting that China excels in industry and light industry and the Middle East region has abundant oil and gas.

Under the framework of the Belt and Road initiative, China will export labor and technologies to Arab countries and will also strengthen educational and people-to-people exchanges, Wang said.

Currently, Chinese companies like Huawei and ZTE have already set up branches in the region, which are expected to increase investment in the future, Wang explained.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 25 2017 03:15:14

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 25 2017 03:15:14

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 25 2017 03:15:14

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords