BEIJING: Saudi Arabia’s funding minister met with China’s commerce and trade chiefs in Beijing on Sunday (Dec 10) and mentioned increasing cooperation in commerce, funding and know-how, the Chinese language ministries stated.
China is keen to work with Saudi Arabia to collectively promote China’s Belt and Street infrastructure funding program and Saudi Arabia’s “Imaginative and prescient 2030” initiative, the ministry quoted Commerce Minister Wang Wentao as saying after the assembly with Saudi Funding Minister Khalid Al-Falih, including that the 2 nations would additionally increase cooperation in power and sources, infrastructure and know-how.
The Imaginative and prescient 2030 plan goals to diversify the financial system of the world’s greatest oil producer away from hydrocarbon earnings and consists of large infrastructure initiatives and an expanded concentrate on the non-public sector.
Al-Falih additionally met China’s Minister of Business and Info Expertise Jin Zhuanglong.
The ministry quoted Jin as saying that China was open to working with Saudi Arabia on new power autos, plane, photovoltaics and synthetic intelligence, in addition to cooperating to safeguard world industrial provide chains.
China’s ties with Saudi Arabia have deepened just lately, with the Saudi power minister declaring in June that his nation would search to collaborate, not compete, with China.
The connection, anchored in hydrocarbon ties, has expanded, with the 2 nations signing a complete strategic partnership settlement and a sequence of funding agreements in December 2022.
