On the morning of September 11, 2024, Premier Li Qiang of the State Council had an in-depth exchange and discussion with the elites of the Saudi business community in Riyadh. The event brought together Saudi investment and business heavyweights, including Minister of Investment Al-Falih, Minister of Commerce Al-Qasbi, as well as executives from well-known companies such as the Saudi Public Investment Fund, the National Oil Company, the Basic Industries Corporation, the International Power and Water Company, and the Ajlan Brothers Holding Group, as well as representatives of the China-GCC Co-Investment Federation.

After listening carefully to the views and expectations of the representatives of the Saudi business community, Premier Li Qiang stressed that in recent years, under the foresight of the leaders of the two countries, China-Saudi Arabia relations have made steady progress, and the development strategies have been closely aligned, especially in the economic and trade fields, and the momentum of cooperation has been strong. In the face of the complex changes of the global economy and the challenges of recovery, entrepreneurs are generally concerned about the future investment hotspots. China is unswervingly promoting high-quality development and striving to achieve Chinese-style modernization, and its huge market demand, vigorous industrial upgrading and active atmosphere of scientific and technological innovation have provided unprecedented market opportunities and investment space for international enterprises, including Saudi Arabia. Premier Li Qiang warmly invited Saudi companies to go deep into the Chinese market and share the fruits of China's prosperity.

He further pointed out that there are many favorable conditions for deepening China-Saudi Arabia economic and trade cooperation, and entrepreneurs from the two countries should have a keen insight into the trend of the times and take active actions. He encouraged Saudi companies to continue to increase investment in China, consolidate and expand cooperation in traditional fields such as oil and gas, petrochemicals, infrastructure and trade, and explore the potential of cooperation in emerging fields such as digital economy and green economy, so as to jointly promote the China-Saudi Arabia comprehensive strategic partnership to a new height. The Chinese government pledged to continue to optimize the business environment, relax market access, protect the rights and interests of foreign investors, and provide a broader development stage for foreign-funded enterprises investing in China.

Representatives of Saudi Arabia's business community responded positively, speaking highly of China's status as an important economic and trade partner of Saudi Arabia, and pointed out that the trade volume between the two countries has repeatedly reached record highs, two-way investment has grown rapidly, and cooperation has achieved remarkable results. In particular, they mentioned that President Xi Jinping's state visit to Saudi Arabia has greatly promoted the development of bilateral relations. They expressed their confidence in the alignment of the Belt and Road Initiative with Saudi Arabia's Vision 2030, are optimistic about the future development prospects of China's economy, and are willing to seize the opportunity to deepen cooperation in energy, new energy, finance, electric vehicles, digital economy and other fields to achieve mutual benefit and win-win results.Editor/Jiang Mingyue