Chinese Premier Li Qiang has called on Saudi companies to increase their presence in China’s market, emphasizing that China is dedicated to creating a top-tier business environment that is market-driven, law-based, and internationally oriented.
During his visit to Saudi Arabia, which lasted less than 24 hours, Li met with Saudi business leaders, Gulf Cooperation Council (GCC) Secretary General Jasem Mohamed Albudaiwi, and Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud. The primary focus of these discussions was on enhancing trade and investment ties between the two nations.
Li assured Saudi business representatives that China plans to further relax market access, lift restrictions on foreign investment in the manufacturing sector, open up service sectors like telecommunications, and support foreign enterprises in establishing a stronger presence in China.
In his meeting with Albudaiwi, Li highlighted the importance of aligning development strategies between China and GCC countries and accelerating free trade agreement negotiations. He also stressed the need for deeper investment cooperation.
The premier’s discussions with the Saudi crown prince centered on encouraging mutual investments and improving communication and cooperation.
Saudi Arabia’s Minister of Investment Khalid Al-Falih noted the positive outlook for China-Saudi investment cooperation, with around 750 Chinese joint ventures or companies currently operating in Saudi Arabia. He mentioned that trade between the two countries exceeded 100 billion U.S. dollars last year and continues to grow.
Al-Falih highlighted that trade with China represents 90% of Saudi Arabia’s total trade volume with the Group of Seven countries. This growth is driven by the complementary strengths of both economies.
Li pointed out that China is advancing modernization by promoting high-quality development, unlocking the demand of its large market, and pushing forward digital, intelligent, and green transformations. Technological innovations in fields like artificial intelligence, cloud computing, and bio-medicine are creating new economic growth drivers and investment opportunities for foreign businesses, including those from Saudi Arabia.
Meanwhile, Saudi Arabia’s Vision 2030 is unlocking significant market opportunities for Chinese investors. Li emphasized that the development strategies of China and Saudi Arabia are well-aligned, aiming to strengthen the comprehensive strategic partnership through enhanced trade and investment relations.
During his meetings, Li encouraged Saudi companies to act as bridges in fostering friendship and mutual understanding between the two nations, elevating the China-Saudi Arabia strategic partnership.
Mohammed Alajlan, deputy chairman of Ajlan & Bros Holding Group, echoed these sentiments, noting the effective integration of technology, capital, and markets between the two countries. He pledged to continue playing a “bridging role” in strengthening bilateral ties, contributing to the economic growth and well-being of both nations.