His Excellency the Saudi Vice Minister of Finance, Mr. Abdulmuhsen Alkhalaf, and the Chinese Vice Minister of Finance, Mr. Liao Min, co-chaired the Saudi-Chinese Financial and Business Roundtable—hosted by the Chinese Ministry of Finance and organized by China Investment Corporation (CIC)—which was held May 20, 2024 in Beijing, People's Republic of China, on the sidelines of the 3rd meeting of the Financial Sub- Committee for the High-Level Chinese-Saudi Joint Committee.

The theme of the Roundtable was: "Promoting Saudi Arabia-China- Financial Cooperation and Infrastructure Inter-connectivity to Serve the Belt and Road Initiative and Saudi Vision 2030".

During the event Vice Minister Alkhalaf stressed the importance of exploring the enormous economic and development opportunities between Saudi Arabia and China. He noted that the growing relations between the two nations were reflected in increased economic and trade cooperation, as the volume of trade between Saudi Arabia and China reached more than $100 billion in 2023.

Vice Minister Alkhalaf also emphasized that the goal of Saudi Vision 2030 is not only implementing reforms, but also transforming into a diversified and sustainable economy. He said that China is a partner and contributor to Vision 2030 implementation. Vice Minister Alkhalaf said such meetings strengthen bilateral cooperation between Chinese and Saudi development funds and banks, exploring opportunities for cooperation and joint-financing for Saudi Vision 2030 projects and on the Belt and Road Initiative in the Kingdom in various sectors, while exchanging knowledge and best practices in risk management, asset portfolio management, liquidity, and other joint areas.

The Saudi delegation shared a presentation on the Saudi economy's developments, as well as investment opportunities in the Kingdom. The participants also discussed a number of topics on investment and economic cooperation between the two nations in the infrastructure sector.

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