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According to reports, there is a big news from Saudi Arabia! The Saudi Arabian Public Investment Fund (PIF) has signed 6 memorandums of understanding with Chinese financial institutions, with a total value of US$50 billion (about RMB 360.5 billion). According to reports, these memorandums of understanding were signed with the Agricultural Bank of China, Bank of China, China Construction Bank, China Export and Credit Insurance Corporation, China Export-Import Bank and Industrial and Commercial Bank of China, covering areas of cooperation such as encouraging two-way capital flows through debt and equity. It is reported that PIF is one of the world's largest sovereign wealth funds, with a large investment portfolio including multinational corporate groups, date palm farms, etc.

As a world-renowned investment institution, PIF's move shocked global investors. Against the backdrop of the US's crackdown on China, this large institution actually chose to cooperate with China. Is there really a huge opportunity here? The head of PIF's Middle East and North Africa securities investment responded to this in an interview. He said: "China is an important strategic market for PIF and one of the keys to PIF's broader investment strategy. Saudi Arabia's 'Vision 2030' and China's 'Belt and Road' initiative are highly consistent in many aspects." This means that in the future, PIF will strengthen its cooperation with China, not only investing in China, but also planning to raise funds from China to attract Chinese investors to invest in Saudi Arabia.