RIYADH — Minister of Investment Eng. Khalid Al-Falih is leading on Sunday a high-level Saudi delegation, heading for China on an official visit. Several government officials and business leaders are part of the delegation, which will continue its visit until August 29. The Saudi delegation includes representatives from the Ministry of Investment, the National Industrial Development Center, the Global Supply Chain Resilience Initiative, the Ministry of Industry and Mineral Resources, the Economic Cities and Special Zones Authority, and the Saudi Authority for Industrial Cities and Technology Zones (MODON). This visit comes within the framework of the Saudi-Chinese High-Level Committee, which is closely monitored and attended by the leadership of both countries, and through the Joint Trade, Investment, and Technology Committee, co-chaired by Saudi Minister of Investment Al-Falih and Chinese Minister of Commerce Wang Wentao. The committee held its fifth meeting in mid-May 2025. This visit is expected to solidify the significant momentum witnessed in economic relations between the Kingdom and China. The volume of trade exchange between the two countries has exceeded $100 billion annually, making China Saudi Arabia's largest trading partner. Chinese direct investment in the Kingdom also increased from SR 24.1 billion in 2023 to SR 31.1 billion last year, a growth rate of 28.8 percent. Investment inflows during the same period increased from SR 3.2 billion to SR 8.6 billion, achieving a growth of 163.9 percent. Net inflows jumped to SR 7 billion, a 217.8 percent increase, reflecting the strength of the Saudi market and the confidence of Chinese investors in the Kingdom's investment environment. The manufacturing sector accounted for the largest share of these investments, with investments also flowing into various sectors, including financial services and insurance, construction, mining, technology, trade, infrastructure, healthcare, and other promising sectors. Al-Falih's visit program includes high-level meetings with senior officials and investors in several Chinese cities. In Shanghai, focus will be on industrial and petrochemical value chains, while in Beijing, financial partnerships and cooperation with state-owned enterprises are being discussed. The program also includes visits to several industrial facilities and participation in financial market activities in Hong Kong. This visit builds on the growing cooperation between the two friendly countries, embodied in previous events, most notably the Saudi-Chinese Investment Forum held in December 2023, which brought together more than 1,200 officials from the public and private sectors. The conference resulted in the signing of more than 60 memoranda of understanding in diverse sectors, including energy, agriculture, tourism, mining, finance, logistics, infrastructure, technology, and healthcare. It is noteworthy that Al-Falih attended the China-GCC Industrial and Investment Cooperation Forum in May 2024, with the participation of more than 50 Saudi officials and businessmen. These efforts are part of the Kingdom's efforts to achieve the goals of Saudi Vision 2030 by strengthening international partnerships, diversifying investments, and expanding cooperation in non-oil sectors.
