Foreign Minister of Saudi Arabia Prince Faisal bin Farhan Al-Saud inaugurates the 10th Arab-China Business Conference in Riyadh, June 11th, 2023. Credit: Saudi Ministry of Foreign Affairs Anyone doubting China’s rapidly growing economic clout in the Middle East need only to have heard Saudi Arabia’s foreign minister speaking at a major business conference held in Riyadh last week. “China is the biggest trade partner for Arab countries,” Prince Faisal bin Farhan Al-Saud told an audience of Saudi royals, corporate leaders and investors at the opening of the tenth Arab-China Business Conference on June 11. "Now, we have an opportunity to strengthen the historic Arab-Chinese friendship and work to build a common future towards a new era that will bring prosperity to our peoples." The florid rhetoric is being matched with a flurry of lucrative dealmaking. The two-day long summit alone saw some 30 new deals worth more than $10 billion announced between Chinese firms and Middle East investors — the largest, a whopping $5.6 billion investment from the Saudi government to create a joint venture with Human Horizons, a Shanghai-based electric vehicle startup. .Subscribe or login to read the rest. Subscribers get full access to: Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else. A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times. A daily roundup of China finance, business and economics headlines. We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.