RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman on Wednesday said that relations between the Kingdom and China are witnessing a qualitative leap, reflecting the keenness of both countries’ leaderships to develop them at all levels.
In remarks to the Saudi Press Agency during the Saudi-Chinese Summit in Riyadh, Prince Abdulaziz said that the Kingdom has strong and close strategic relations with China in many fields, the most important of which is energy.
China has become the top destination for Saudi oil exports as part of the high volume of trade exchange between the two countries, with continued annual growth over the past five years, he said, adding that Saudi-Chinese energy ties include multiple joint investments.
China’s President Xi Jinping arrived in Saudi Arabia earlier on Wednesday as part of a three-day visit to the Kingdom following an invitation by King Salman to attend the summit, which will run until Dec. 9.
Prince Abdulaziz highlighted the importance of cooperation between the two countries in maintaining stability of the global oil market, and said that the Kingdom will remain China’s credible and reliable partner in facing future energy challenges.
The minister also reviewed areas of cooperation between the Kingdom and China, mainly through projects to convert crude oil into petrochemicals, renewable energy, clean hydrogen, electricity projects and peaceful uses of nuclear energy, as well as investment in integrated refining and petrochemical complexes in both countries.
He highlighted the two nations’ efforts to boost cooperation in energy supply chains by establishing a regional center in the Kingdom for Chinese factories.