Gulf economies complementary to China

More than 100 countries and international organizations have expressed their willingness to be part of the Belt and Road Initiative (the Silk Road Economic Belt and 21st Century Maritime Silk Road), and China has signed various forms of cooperation agreements with more than 40 countries along the routes since President Xi Jinping proposed the initiative in 2013.

The Gulf region has been an important trade partner of China since ancient times. Located at a crossroad of the Atlantic, Indian and Pacific oceans, the Gulf region is rich in oil and natural gas resources, and has convenient road and water networks. China, as the world's second-largest economy, has the highest manufacturing output and goods trade volume. And it contributes more than 33 percent to global economic growth. These factors make the Gulf region and China economically complementary.

Trade between China and the Gulf Cooperation Council reached $175.2 billion in 2014, a 20 fold increase from 2001. The GCC is China's seventh-largest trade partner, with China being the GCC's second-largest trade partner and most important oil buyer.