Saudi king postpones visit to the Maldives over swine flu

Saudi Arabia is the top exporter of crude oil while China is the world's biggest importer.

Saudi Arabia may become a leading auto manufacturer if the kingdom's new agency can demonstrate the feasibility of producing vehicles and parts for one of the world's largest auto companies.

Deputy Chinese Foreign Minister Zhang Ming said the memorandums of understanding and letters of intent were potentially worth about $65 billion, involving everything from energy to space. Al-Meleihi noted that there had been a growing Chinese interest in Saudi Aramco's initial public offering (IPO) ahead of King Salman's visit to Asia.

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Chinese President Xi Jinping told the Saudi king his visit showed the importance he attached to relations with China.

China and Saudi Arabia established their diplomatic ties in 1990, the relationship deepened even more in 2016, when President Xi made a historic visit to the country in January. Xi visited both Saudi Arabia and Iran in January previous year.

- The Saudi Fund for Development signed an agreement with China Export & Credit Insurance Corporation to cooperate in providing finance and guarantee of exports.

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Opposition parties in the Maldives had planned protests during Salman's visit against what they said was a government plan to sell 21 tiny islands to a member of the Saudi royal family.

Experts say Beijing's non-interference in Middle East conflicts or diplomacy and its reliance on the region for oil is much valued. The two already have a joint project - a refinery in Tianjin in northeastern China.

For Saudi Aramco, the potential investments fit with its strategy to expand refining and chemicals in a bid to diversify assets and secure long-term agreements for its oil.

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The Saudi king has cancelled a scheduled visit to the politically-troubled atoll nation of the Maldives because of an outbreak of swine flu in its capital, the government in Male announced Friday.

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