Type to search

China, Saudi Trade Chiefs Eye Tech, Energy, Project Tie-Ups

Beijing’s ties with Jeddah have deepened with the Saudis saying in June that they would look to collaborate, not compete, with China

China and Saudi have been talks on allowing ETFs to cross-list on each countries' stock exchanges.
China is Saudi Arabia's top trading partner globally with bilateral trade worth $87.3 billion in 2021. File photo: Reuters


China’s trade chiefs met Saudi Arabian counterparts in Beijing on Sunday with the two nations pledging to cooperate more in technology, energy, infrastructure and resources.

China said it is also willing to work with Saudi Arabia to jointly promote Beijing’s Belt and Road infrastructure investment programme and Jeddah’s ‘Vision 2030’ initiative, the ministry quoted Commerce Minister Wang Wentao as saying after the meeting with Saudi Investment Minister Khalid Al-Falih.

The Vision 2030 plan aims to diversify the economy of the world’s biggest oil producer away from hydrocarbon income and includes big infrastructure projects and an expanded focus on the private sector.


Also on AF: US, S Korea, Japan Team Up to Confront N Korea Cyber Threat


Al-Falih also met China’s Minister of Industry and Information Technology Jin Zhuanglong.

The ministry quoted Jin as saying that China was open to working with Saudi Arabia on new energy vehicles, aircraft, photovoltaics and artificial intelligence, as well as cooperating to safeguard global industrial supply chains.

China’s ties with Saudi Arabia have deepened recently, with the Saudi energy minister declaring in June that his country would seek to collaborate, not compete, with China.

The relationship, anchored in hydrocarbon ties, has expanded, with the two countries signing a comprehensive strategic partnership agreement and a series of investment agreements in December 2022.


  • Reuters with additional editing by Sean O’Meara


Read more:

China President Xi to Visit Vietnam For Security, Tie-Ups Talks

China-Russia Trade Worth $218bn as Moscow Leans More on Beijing

China to Let Fujian Reach Out to Taiwan for Economic Tie-Ups

European Union, China Pledge to Cooperate on Supply Chains



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


AF China Bond