Saudi Arabia is presenting significant investment opportunities for Chinese investors, particularly in infrastructure, tourism, and industry, according to His Excellency Mohammed Al-Jadaan, Minister of Finance. During the fourth session of the Financial Sub-Committee of the High-Level Saudi-Chinese Joint Committee, His Excellency Mohammed Al-Jadaan emphasized the importance of partnerships between Saudi public entities and Chinese firms.
Economic ties between the Kingdom and China continue to strengthen, with China remaining Saudi Arabia’s largest trading partner. According to official data, Saudi exports to China reached SR44.91 billion ($11.97 billion) in the first quarter, while imports stood at SR59.33 billion. This collaboration aligns with Saudi Vision 2030 and China’s Belt and Road Initiative.
The virtual meeting, co-chaired by His Excellency Mohammed Al-Jadaan and His Excellency Lan Fo’an, Minister of Finance of China, focused on enhancing economic and financial cooperation. Key topics included:
- tax policy
- capital markets
- banking regulation
- infrastructure
- public-private partnerships
Earlier in May, both nations signed 57 agreements and memoranda of understanding worth over SR14 billion ($3.7 billion), according to official sources. These covered sectors such as:
- agriculture
- water
- environment
- fisheries
- livestock
Noteworthy projects include a Smart Food Security City and an agro-industrial zone in Jazan to boost supply chains and agricultural investment. Of these agreements, 26 aim to increase Saudi exports of products like dates, vegetables, fruits, and bottled water to China.
His Excellency Mohammed Al-Jadaan called for continued efforts to deepen trade and investment ties, foster financial integration, and align economic policies for mutual prosperity. He also highlighted the need for innovation, research, and stronger public-private collaboration.
Multilateral engagement was identified as crucial for meeting global development goals. His Excellency Abdulmuhsen Al-Khalaf, Vice Minister of Finance, praised the leadership of both countries in organizations such as the International Monetary Fund and the World Bank. He urged prioritizing cooperation in forums like the G20 and acknowledged joint efforts in debt relief initiatives, underscoring the importance of continued engagement in international financial governance.
