In December 2023, the China-Saudi Investment Conference, co-hosted by the Ministry of Commerce of the People’s Republic of China and the Ministry of Investment of the Kingdom of Saudi Arabia, was successfully held in Beijing. H.E. LI Fei, Vice Minister of Commerce, the People’s Republic of China, and H.E. Khalid bin Abdulaziz Al-Falih, Minister of Investment of Saudi Arabia, delivered opening speeches respectively. At the conference, China and Saudi Arabia signed more than 60 memorandums and agreements in various fields, including energy, agriculture, tourism, mining, finance, logistics, infrastructure, technology and healthcare, with a total value of the cooperation agreements of about $25 billion.
H.E. Li Fei said that China is willing to work with Saudi Arabia to actively promote the high-quality development of the joint construction of the Belt and Road. On the one hand, we will continue to consolidate and deepen cooperation in the traditional energy sector, accelerate the deep integration of the industrial and supply chains of both parties, and promote smooth trade. On the other hand, we will actively cultivate high-quality projects and strengthen cooperation in financial investment, green environmental protection and other fields to create new growth points. This will promote China-Saudi Arabia economic and trade cooperation to a new level.
H.E. Khalid Al-Falih said that Saudi Arabia is committed to establishing a long-term and stable investment cooperation relationship with China to jointly promote the economic growth and development of both sides. He pointed out that Saudi Arabia has rich energy resources and a superior investment environment, and welcomes Chinese enterprises to invest in Saudi Arabia and participate in the development of energy, infrastructure, manufacturing and other fields to further expand cooperation areas and improve the level of cooperation.
During this conference, in addition to the opening ceremony, a total of three summit dialogues and five roundtable discussions were held. The three summit dialogues focused on “Clean Energy And Downstream Industries: Pathways to NetZero Transition“, “Investment And Financing: Aligning Efforts Between Vision & Belt and Road Initiative”, and “Mining And Minerals: Fulfilling KSA’s Ambition to Localize the EV Battery Value Chain“, where the participants shared the innovative practice cases of their companies based on their own experience, jointly promoted the Vision 2030 and the Belt and Road Initiative, analyzed the current opportunities and challenges, and looked forward to the future development prospects. Calvin Chenggang FU, Chairman of the China Innovation Finance Institute, moderated the roundtable with the theme of “Investment and Financing”.
