CCTV News: Arab countries are China's largest source of crude oil imports, an important market for contracted projects, and a two-way investment partner. In recent years, Sino-Arab friendly cooperation in various fields has made considerable progress, especially in the economic and trade fields.
In 2017, the trade volume between China and Argentina reached 191.3 billion US dollars, up 12% year-on-year, according to the Ministry of Commerce. Among them, China imported 92.8 billion US dollars from Arab countries and exported 98.5 billion US dollars to Afghanistan, and the overall import and export tended to be balanced. Energy cooperation is an important part of China-Arab strategic cooperation. China mainly imports oil and its derivatives from Arab countries. In 2017, China imported 61.3 billion US dollars of crude oil from Arab countries, accounting for 37% of China's total crude oil imports in that year.
At the same time, more and more Arab commodities have entered the homes of ordinary people. Egypt's oranges, grapes, vegetable oil, seafood, cotton, leather and other Arab commodities have provided more choices for the Chinese people and promoted the sustained and healthy development of Sino-Arab trade. With the deepening of trade cooperation, in 2017, China's financial direct investment flows to Africa amounted to US $1.25 billion, an increase of 9% over the same period last year. With the help of the east wind of "one belt and one road", the infrastructure cooperation between China and Argentina is also developing steadily. In 2017, Chinese-funded enterprises signed new contracts worth 32.8 billion US dollars in Afghanistan, with a turnover of 27.7 billion US dollars. In Jordan, Egypt, Algeria, Iraq and the United Arab Emirates, projects contracted by China have become highlights of local infrastructure construction.