Riyadh, Beijing agree to establish a regional center for Chinese ‎factories ‎

Prince Abdulaziz bin Salman bin Abdulaziz; Minister of Energy, held a meeting via video conference with Zhang Jianhua; The National Energy Official of the People’s Republic of China. During the meeting, the two sides affirmed their keenness to work on strengthening bilateral cooperation between the two countries in the fields of energy.

The two sides pointed out the importance of China and the Kingdom, as one of the most important producers and consumers of energy in the world, to constantly exchange views, and affirmed their readiness to cooperate in maintaining the stability of the global oil market, and their continuation of effective communication, and strengthening cooperation to face future challenges.

They stressed the importance of reliable oil supplies in the long term in bringing stability to the oil market, which faces many uncertainties as a result of the complex and changing international conditions, noting that the Kingdom remains the most reliable partner and exporter of crude oil supplies to China.

The two sides’ discussions included cooperation and joint investment in the countries of the Chinese Belt and Road Initiative, as well as investment in integrated refining and petrochemical complexes in both countries, and enhancing cooperation in the energy sector supply chains by establishing a regional center for Chinese factories to take advantage of the Kingdom’s distinguished position among three continents.

The two sides agreed to cooperate within the framework of the bilateral cooperation agreement in the field of peaceful uses of nuclear energy between the Chinese and Saudi governments. They also stressed the importance of cooperation in the field of electricity and renewable energy, as well as cooperation in the field of clean hydrogen through research and development.