China to Invest $36 Billion in Various Sectors in Algeria

Algerian TV channel Ennahar reported on its website today that "China will invest $36 billion in several sectors in Algeria including industry, modern technology, knowledge economy, transport, and agriculture." Algerian President Abdelmadjid Tebboune stated during his meeting in the Shenzhen region with representatives of the Algerian community in China: "The projects and agreements concluded with the Chinese side are massive and mutually beneficial for both countries." He emphasized that "Algeria seeks to elevate economic relations with Beijing to the level of the historically good political relations," adding that "his visit has opened up investment horizons between the two countries." The Algerian president has been on an official visit to China for several days, during which he met with his Chinese counterpart Xi Jinping in Beijing on Tuesday.