Saudi Arabia-new-shipping-lane

Links between China and the Arabian Peninsula date back centuries – the Aladdin legend reputedly originated in China and marine trade with and through Arabia long predated links with Europe – so it is no surprise that Hong Kong reached out to Saudi Arabia and the United Arab Emirates after travel restrictions ended.

Hong Kong and the United Arab Emirates are both gateways to and connection hubs for large, fast-growing regions – Mainland China and the Persian Gulf respectively.

In a fast-changing world the Middle East has become an economic hot-spot with many fast-growing economies which are rapidly diversifying beyond their traditional reliance on energy exports.

Hong Kong fully opened its doors on 6 February, admitting travellers without PCR tests or COVID vaccine requirements, reviving the city’s role as a global financial hub and gateway to Mainland China.

Saudi Arabia and Mainland China have jointly announced plans to build a US$5.6 billion petrochemical plant in Yanbu Industrial City on the coast of the Red Sea.

Mainland China's Silk Road Fund (SRF) has announced plans to acquire a 49% stake in Acwa Power Renewable Energy Holding (APRE), the renewable-energy platform developed by Riyadh-headquartered utilities business Acwa Power.