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China and Saudi Arabia signed economic cooperation agreements worth $28 billion at a joint investment forum on Friday, Reuters reports. 

The big picture: 35 agreements were signed at the forum, including four licenses for Chinese companies, the details of which were not given by the Saudi state news agency SPA. The forum, held by Saudi Arabia's investment agency SAGIA, included a visit to Beijing by Saudi Crown Prince Mohammed bin Salman.  

Go deeper: How Saudi Arabia and China could partner on solar energy

China and Saudi Arabia sign economic agreements worth $28 billion

35 agreements were signed, including four licenses for Chinese companies.

In this image, Saudi Crown Prince Mohammed bin Salman shakes hands with a Chinese diplomat in front of the Chinese and Saudi Arabian flags.

Saudi Crown Prince Mohammad bin Salman al-Saud and Vice Premier of China Zhang Gaoli in 2017. Photo: Bandar Algaloud / Saudi Royal Council / Handout/Anadolu Agency/Getty Images

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Saudi Arabia

China and Saudi Arabia signed economic cooperation agreements worth $28 billion at a joint investment forum on Friday, <a class="gtmContentClick" data-vars-link-text="Reuters reports." data-vars-click-url="https://www.reuters.com/article/us-asia-saudi-china-deals-idUSKCN1QB1ET?utm_campaign=trueAnthem:+Trending+Content&amp;utm_content=5c700d5000bd4700011a4e32&amp;utm_medium=trueAnthem&amp;utm_source=twitter" data-vars-content-id="63d3980c-06e7-403c-859c-a759671e60e1" data-vars-headline="China and Saudi Arabia sign economic agreements worth $28 billion" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.reuters.com/article/us-asia-saudi-china-deals-idUSKCN1QB1ET?utm_campaign=trueAnthem:+Trending+Content&amp;utm_content=5c700d5000bd4700011a4e32&amp;utm_medium=trueAnthem&amp;utm_source=twitter" target="_blank">Reuters reports.</a> The big picture: 35 agreements were signed at the forum, including four licenses for Chinese companies, the details of which were not given by the Saudi state news agency SPA. The forum, held by Saudi Arabia&#x27;s investment agency SAGIA, included a visit to Beijing by Saudi Crown Prince Mohammed bin Salman. Go deeper: <a class="gtmContentClick" data-vars-link-text="How Saudi Arabia and China could partner on solar energy" data-vars-click-url="https://www.axios.com/saudi-arabia-makes-solar-gamble-with-china-risking-us-blowback-38e99622-bc52-4f68-a0a8-3f5e9fe3d65a.html" data-vars-content-id="63d3980c-06e7-403c-859c-a759671e60e1" data-vars-headline="China and Saudi Arabia sign economic agreements worth $28 billion" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/saudi-arabia-makes-solar-gamble-with-china-risking-us-blowback-38e99622-bc52-4f68-a0a8-3f5e9fe3d65a.html" target="_self">How Saudi Arabia and China could partner on solar energy</a>

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.