A senior Chinese diplomat has thrown his country’s weight behind Iran’s membership of the Shanghai Cooperation Organization (SCO), an emerging economic and security alliance jointly led by China and Russia.
Iran says it welcomes China’s investments in its non-oil projects, stressing that it stands ready to have an active participation in the Silk Road Initiative pursued by Beijing.
Iran says it has signed two memorandums of understanding (MoUs) with two major Chinese banks to provide loans for its key development projects.