Cairo: EgyPulse – News Desk
Chinese President Xi Jinping has pledged Beijing’s support for Egypt’s development agenda, particularly in renewable energy, electric vehicles (EVs), and energy project components, during a meeting with Prime Minister Mostafa Madbouly in Tianjin. The talks took place on the sidelines of the Shanghai Cooperation Organisation Plus (SCO+) Summit, which runs from 31 August to 1 September under the theme Upholding the Shanghai Spirit: SCO on the Move.
Xi said China will back the expansion of Chinese investment and businesses in Egypt, encourage more Chinese tourists to visit, and support Cairo’s financial tools, including the reissuance of Panda bonds. He also stressed cooperation to uphold international law and the global trading system, voiced support for stability in the Red Sea, and reiterated China’s preference for dialogue in addressing Middle East conflicts.
The Chinese leader invited President Abdel-Fattah El-Sisi to next year’s Arab-Chinese Summit and expressed his intention to visit Egypt during an upcoming African tour. He also thanked Cairo for its continued support of the One China policy. For his part, Madbouly described China as a “reliable strategic partner,” stressing Egypt’s aim to deepen economic ties.
He urged more Chinese companies to invest, noting China’s position as Egypt’s largest trading partner and highlighting the success of firms such as industrial developer TEDA, which has invested over $3 billion. Madbouly underlined Cairo’s interest in Chinese backing to localize EV manufacturing and components for renewable energy and water desalination projects.
He welcomed financial cooperation through Panda bonds and suggested further steps, including the exchange of national currencies. The Egyptian premier also invited Xi to attend the inauguration of the Grand Egyptian Museum, scheduled for 1 November.
