Riyadh, November 1, 2024 – The Europe Today: Saudi Arabia is eager to deepen its cooperation with China in the green industry sector, according to Finance Minister Mohammed Al-Jadaan, who highlighted the strategic partnership during the 8th Future Investment Initiative conference in Riyadh on Thursday.
“China is leading the whole world in the green industry and renewable energy,” Al-Jadaan remarked, noting that advancements in technology, electric vehicles, battery storage, and robotics are setting a global standard. “We are aiming for even closer cooperation with China,” he added, emphasizing that the two nations are exploring further partnerships across green and sustainable technologies.
Saudi Arabia’s commitment to China as its largest trading partner underscores a relationship that Al-Jadaan described as both “strategic” and “very important.” He elaborated, “This relationship extends beyond trade; it encompasses technology, broader economic ties, and cultural exchange.” Following his May visit to China, Al-Jadaan expressed admiration for the “significant achievements” of the Chinese economy and lauded the bilateral agreements established in financial services and other sectors, highlighting Saudi Arabia’s interest in China’s economic growth model.
In recognition of cultural ties, Al-Jadaan pointed to the recent designation of 2025 as the Saudi-China Year of Culture as a testament to the deepening “people-to-people” ties. He highlighted the alignment between China’s “high-quality development philosophy” and Saudi Arabia’s Vision 2030 initiative, emphasizing that both are long-term strategies underpinned by government support. “China’s commitment, execution capability, and long-term vision are admired around the world,” Al-Jadaan remarked.
Addressing recent Western reports questioning China’s economic momentum, Al-Jadaan dismissed such perspectives, stating, “China has been a very bright spot in the world economy, recognized globally.” He underscored China’s impressive 4.8 percent growth rate, asserting that it remains one of the fastest-growing economies despite global challenges. Al-Jadaan praised the Chinese government’s “serious support” for its economy, noting recent financial sector stimulus as evidence of a responsive economic policy.
As international tensions rise, Al-Jadaan also voiced satisfaction with Saudi Arabia’s alignment with China in promoting peace and stability, calling it a priority that benefits both regional and global communities. He added that, through partnerships with international institutions such as the International Monetary Fund and the World Bank, and frameworks like the Group of 20, Saudi Arabia and China are well-positioned to address challenges faced by the Global South, particularly among low-income and emerging economies.
“Saudi Arabia and China share a commitment to stability and growth that benefits not only our economies but the global community,” Al-Jadaan concluded, emphasizing that Saudi Arabia is resolute in its partnership with China to advance mutual goals across economic, environmental, and cultural arenas.
