Saudi Delegation Concludes Meetings with Chinese Officials in Beijing

The Saudi delegation, headed by the Minister of Finance, Mohammed Aljadaan, concluded today its participation in the Saudi-Chinese meetings in Beijing, reported the Saudi Press Agency (SPA).

During the meetings, held on May 20-21, 2024, Aljadaan co-chaired the third meeting of the Finance Sub-Committee for the High-Level Chinese-Saudi Joint Committee, alongside the Chinese Minister of Finance, Lan Fo’an.

In his speech, the Saudi Finance Minister confirmed that the People’s Republic of China is a key partner in the ongoing economic transformation in the Kingdom.

Aljadaan highlighted the great potential for innovation and technical cooperation between Saudi Arabia and China. He noted that strengthening partnerships in fields such as artificial intelligence, renewable energy and smart cities advances economic transformation and creates new avenues for growth and development.

Participants in this meeting discussed several issues including the macroeconomic situation and related policies, and bilateral and multilateral cooperation.

Moreover, the Vice Minister of Finance, Abdulmuhsen Alkhalaf, and his Chinese counterpart, Liao Min, co-chaired the Saudi-Chinese financial and business roundtable, hosted by the Chinese Ministry of Finance and organized by the Chinese Investment Corporation.

Alkhalaf stressed the significance of exploring opportunities and potentials of the economic and developmental partnership between Saudi Arabia and China.

He added that the growing bilateral relations are reflected in economic and trade cooperation, driving the volume of trade exchange between the two countries to more than $100bn in 2023.

The Saudi delegation made a presentation on the Saudi economy developments and investment opportunities. The participants discussed various topics related to investment and economic cooperation between the two countries in the infrastructure sector.

On the sidelines of the meetings, the Saudi Finance Minister met with Chinese ministers, investors and thought leaders. They discussed the latest economic and financial developments and topics of common interest, as well as investment opportunities in the Kingdom under Saudi Vision 2030.

The Saudi-Chinese meetings are part of Riyadh and Beijing’s efforts to strengthen bilateral cooperation and establish relations between Saudi Arabia and China in various fields, aiming to achieve comprehensive economic growth for both countries and the entire world.

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