Saudi viewers and Chinese expatriates gather at the opening ceremony of the China Mart in Riyadh, Saturday. (Reuters)RIYADH: The inauguration of the SR300 million China Mart here Saturday under the patronage of Prince Sattam, Deputy Emir of Riyadh will further strengthen bilateral relations between Saudi Arabia and China, said a leading Saudi businessman. China Mart, spread over an area of 100,000 square meters, will accommodate about 250 Chinese shops exclusively displaying Chinese-made products from 12 different sectors including home appliances, furniture, electronic and electrical items, ceramics and decor accessories among others. “The unique aspect of this Saudi-Chinese joint venture is that China Mart will be solely run and managed by Chinese staff. About 500 Chinese staff who speak fluent Arabic will supervise the shops,” said Abdulaziz Al-Kridis, partner and vice-chairman of Chinese Competitive Spirit (CCS), a Saudi-Chinese joint venture established by Al-Kridis and his Chinese counterpart Wei Shiming. Riyadh's China Mart is the first of its kind shopping mall in the Kingdom, he said. Two more malls similar to China Mart will be established in Jeddah and Dammam, he added. Chinese Ambassador to the Kingdom Yang Honglin described the project as a reflection of the economic importance of Saudi Arabia, which is China's largest trade partner in West Asia. He expects the volume of trade between Riyadh and Beijing to rise to more than $40 billion by the end of the current year. The Kingdom is the largest supplier of energy to China. The bilateral trade volume between the two countries reached $40 billion in 2009. The setting up of joint ventures in retail sales such as China Mart will further boost the strategic economic partnership between the two countries. China Mart is designed to attract traders and individuals alike to conclude contracts for both wholesale and retail goods and commodities. According to Chinese observers, China Mart in Riyadh is an important opportunity for Chinese traders to display their goods, and to change the stereotypes attached to Chinese manufacturers.
