Saudi Arabia’s Investment Minister Khalid Al-Falih reportedly discussed investment cooperation opportunities with heads of major Chinese banks and the chairwoman of the Silk Road Fund on August 30.
Official press releases said talks focused on infrastructure, agriculture, and the development of commercial transactions between the two countries.
Al-Falih reviewed investment opportunities in the financial sector during the roundtable meeting in China with 35 Chinese financial institutions and representatives from Saudi public and private sectors.
Discussions covered developing cooperation and raising the level of integration between the two countries.
Al-Falih said a memorandum of understanding was signed with the Belt and Road Office of the Hong Kong Special Administrative Region government of China.
He said this strategic step aims to open cooperation horizons, expand economic relations and attract quality investments in promising sectors according to Saudi Vision 2030.
The discussions focused on cooperation opportunities according to banks’ specialisations, with emphasis on infrastructure, agriculture and developing trade dealings between Saudi Arabia and China.
Earlier in May, the Financial Sub-Committee of the High-Level Saudi-Chinese Joint Committee convened to discuss enhancing bilateral cooperation in banking regulation, capital markets, tax policy, and infrastructure finance.
Saudi Arabia’s Public Investment Fund (PIF) signed agreements with six major Chinese banks to facilitate joint investments worth up to $50bn, extending to new sectors and infrastructure projects, China Briefing previously reported.
The report noted that Saudi Arabia and China signed 57 agreements worth US$3.7bn(SAR 14bn) during the Saudi-Chinese Business Forum, focusing on agriculture, water, food security, and supply chain cooperation.
