Sunday, 16 June 2024

Saudi Minister of Finance discusses with investors in China opportunities in the Kingdom

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The Kingdom’s delegation, headed by Mohammed bin Abdullah Al-Jadaan, Minister of Finance, concluded today its participation in the Saudi-Chinese meetings, which continued over the course of 12-13 Dhu al-Qi’dah, in the Chinese capital, Beijing.

On the sidelines of the meetings, the Minister of Finance met with a number of ministers, investors and thought leaders in China to discuss the latest economic and financial developments and topics of common interest, in addition to investment opportunities in the Kingdom in light of the Kingdom’s Vision 2030.

Al-Jadaan chaired, alongside Chinese Finance Minister Lan Fuan, the third meeting of the Finance Subcommittee of the High-Level Chinese-Saudi Joint Committee, during which he stressed that China is a major partner in the current economic transformation in the Kingdom, pointing to the enormous potential in innovation and technical cooperation between the Kingdom. Saudi Arabia and China, pointing out that strengthening partnerships in areas such as artificial intelligence, renewable energy, and smart cities drives economic transformation and creates new paths for growth and development.

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During the meeting, the participants discussed many topics, including macroeconomic conditions and policies, and bilateral and multilateral cooperation.

For his part, Abdul Mohsen bin Saad Al-Khalaf, Deputy Minister of Finance, along with Chinese Deputy Minister of Finance Liao Min, chaired the Saudi-Chinese Finance and Business Round Table meeting, hosted by the Chinese Ministry of Finance and organized by the Chinese Investment Corporation, during which he stressed the importance of exploring the enormous opportunities and potential that lie in the economic and development partnership. Between the Kingdom and China, pointing out that the growing relations between the two countries were greatly reflected in the economic and trade cooperation between them, as it contributed to the volume of trade exchange reaching more than $100 billion in 2023.

The Saudi delegation gave a presentation in which it reviewed developments in the Saudi economy and investment opportunities in the Kingdom, and the participants discussed a number of topics about investment and economic cooperation between the two countries in the infrastructure sector.

These meetings come within the framework of establishing bilateral cooperation and consolidating the extended relations between the Kingdom of Saudi Arabia and the People’s Republic of China in various fields. In order to achieve comprehensive economic growth for both parties in particular and the world in general.

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