Chinese media outlets highlight China-Egypt's growing ties
Beijing - MENA
The visit of the China's President Xi Jinping to Egypt and its outcomes hit the headlines of the Chinese media outlets on Saturday, citing the growing ties between the two countries.
The papers shed the light on Xi's speech he delivered at the Arab League in Cairo, in which he pledged more Chinese political, economic, security, and developmental support to the Middle East.
They paid a great attention to the talks Xi held with Egypt's President Abdel Fattah El Sisi, as the Chinese president suggested that both China and Egypt work together to make Cairo a hub in the Belt and Road Initiative.
Xi also proposed introducing a mutual strategic vision to concentrate on development, cooperation, infrastructure, and the production capability in Egypt.
When addressing the Arab League on Thursday, Xi stressed the need to "advance industrialization in the Middle East" and carry out production capacity cooperation, the Chinese People Newspaper reported.
"China's competitive production capacity and the human resources in the Middle East, when combined, will deliver more and better job opportunities for the region," Xi said.
Xi announced that China will set up dlrs 15 billion special loan for industrialization in the region to be used on production capacity cooperation and infrastructure projects in regional countries.
China will launch dlrs 20 billion joint investment fund with the UAE and Qatar to primarily invest in traditional energy, infrastructure development and high-end manufacturing industries in the region, he added.
China and the Middle East "need to make good use of the coming five years", the crucial period to jointly build the Belt and Road Initiative, Xi said.