Chinese, Saudi Officials Discuss Strengthening Economic Ties

Chinese, Saudi Officials Discuss Strengthening Economic Ties

He Lifeng, a senior Chinese official, met with Saudi Arabia’s Minister of Finance, Mohammed bin Abdullah Al-Jadaan, on Monday. The high-level talks focused on bolstering China-Saudi Arabia economic and trade relations, enhancing global economic governance, and addressing other pertinent issues.

He Lifeng, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Financial and Economic Affairs, emphasized the robust progress of China’s comprehensive modernization efforts. Concurrently, Saudi Arabia is actively advancing its Vision 2030 initiative, aimed at diversifying its economy and reducing its dependence on oil, state-run Xinhua reported.

During the meeting, He underscored the importance of implementing the key agreements forged by the leaders of both nations. “China and Saudi Arabia should focus on realizing the important consensus reached by our leaders, strengthen the alignment of our development strategies, deepen our multilateral and bilateral economic and trade cooperation, and promote the shared economic development and prosperity of our countries,” He stated.

Echoing He’s sentiments, Mohammed bin Abdullah Al-Jadaan expressed Saudi Arabia’s strong commitment to fostering its relationship with China. “Saudi Arabia attaches great importance to developing relations with China and is eager to work together to continuously explore the potential of practical cooperation across various fields. Our goal is to advance the comprehensive strategic partnership between our nations,” Al-Jadaan remarked.

The dialogue between He and Al-Jadaan underscores the mutual dedication to enhancing economic and trade collaboration, which has seen significant growth in recent years. Both countries have identified several areas of mutual interest, including energy, infrastructure, technology, and investment, as focal points for future cooperation.

China’s modernization drive, characterized by technological innovation and sustainable development, aligns well with Saudi Arabia’s Vision 2030 objectives, which include economic diversification and the promotion of private sector growth. The synergy between these strategic initiatives provides a strong foundation for expanded cooperation.

Moreover, the discussions touched on the broader context of global economic governance, where both nations play influential roles. Strengthening coordination in international economic forums and promoting a fair and inclusive global economic order were highlighted as common goals.

This meeting is a continuation of the deepening ties between China and Saudi Arabia, reflecting their shared vision for a prosperous and interconnected future. As both nations work towards their ambitious national objectives, the partnership is expected to yield significant benefits, fostering stability and growth in the global economy.

The engagement between He Lifeng and Mohammed bin Abdullah Al-Jadaan represents a pivotal step in solidifying the strategic partnership between China and Saudi Arabia, paving the way for enhanced cooperation and mutual prosperity.