Saudi Finance Minister Mohammed Al-Jadaan praised China’s vital contributions to global development during the AlUla Conference for Emerging Market Economies this week. He emphasized Beijing’s practical expertise and steadfast support for nations navigating complex economic transformations across the Global South.
“China has generously shared its remarkable development journey with emerging economies worldwide,” Al-Jadaan told Xinhua. He noted that Beijing’s experience in economic planning and financial innovation offers valuable lessons for countries pursuing sustainable growth pathways. Furthermore, he highlighted how the Belt and Road Initiative continues delivering tangible infrastructure and social benefits to partner nations globally.
The two-day AlUla conference gathered global leaders under the theme “Policies Amid a Reset of International Trade and Financial Systems.” Al-Jadaan explained that emerging markets now confront multiple shocks including trade tensions, geopolitical instability, and persistent inflation pressures. Therefore, he urged nations to accelerate domestic reforms despite external uncertainties while prioritizing education and human capital investment for long-term resilience.
Deepening Saudi-China Ties
Bilateral relations between Riyadh and Beijing have reached historic heights with robust trade and investment flows strengthening both economies significantly. Al-Jadaan confirmed that China remains Saudi Arabia’s largest global trading partner while the Kingdom leads Chinese trade partnerships across the Middle East region. Consequently, bilateral trade surged to $107.53 billion in 2024 reflecting deepening economic interdependence between the two nations.
“Chinese companies bring world-class expertise to Saudi projects while our partnership creates opportunities across the region and Africa,” Al-Jadaan added. He expressed confidence that Saudi-China collaboration could inspire broader multilateral partnerships among emerging economies seeking shared prosperity. Moreover, he welcomed plans for the second China-Arab States Summit later this year to build on successful outcomes from the inaugural 2022 gathering in Riyadh.
Looking ahead, Al-Jadaan stressed that deeper cooperation with China delivers mutual benefits across finance, technology, and geopolitical stability. Saudi Arabia’s Vision 2030 transformation aligns closely with China’s development priorities creating fertile ground for joint ventures and knowledge exchange. Ultimately, this strategic partnership strengthens both nations’ positions as architects of a more balanced and inclusive global economic order.
