China to sell US dollar bonds in Saudi Arabia, deepening financial ties

China will sell US dollar bonds in Saudi Arabia next week, marking its first bond offering in three years. This move highlights the growing financial relationship between the two countries.

Saudi Arabia is increasingly relying on Chinese investment to support its Vision 2030 modernization plans, which aim to create a greener economy. The kingdom has attracted Chinese investors for major projects, including the futuristic city of Neom.

In recent months, Saudi Arabia has signed significant deals with Chinese lenders and launched exchange-traded funds to connect its investors with Chinese markets. These developments have raised concerns in the US about the strengthening ties between Riyadh and Beijing.