State-owned Saudi Aramco signed an agreement on Friday to acquire nine percent of Chinese project Zhejiang Petrochemical, Saudi state news agency SPA said. The agreement, which formalizes a previously announced plan, came during a visit of Crown Prince Mohammed bin Salman to Beijing. Zhejiang Petrochemical is controlled by private Chinese chemical group Zhejiang Rongsheng Holding Group. Zhejiang Petrochemical is building a refinery and petrochemical complex in the eastern Chinese province of Zhejiang.