Saudi Industry Minister Visits China to Explore Investments, Cooperation

Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef has commenced an official visit to the People's Republic of China. The visit aims to explore opportunities in the fields of automation and technology solutions, in addition to attracting quality investments to strategic industrial sectors in the Kingdom of Saudi Arabia, including the automotive, technology, and artificial intelligence sectors. During the visit, AlKhorayef is scheduled to meet with senior Chinese government officials and heads of several major Chinese companies leading in the automotive, automation, and technology solutions industries, including Huawei, General Lithium Corporation (a car battery manufacturer), Jiangxi Copper, and Guangzhou HI Gears. Al-Khorayef will also participate in a business roundtable organized by the Guangdong Chamber of Commerce and meet with its President. He will also conduct a field tour in the Guangzhou Economic and Technological Development Zone, where he will visit Mino Equipment Co., Ltd. , Modern Industrial Investment Holding Group, and GAC Group (an automotive manufacturer). AlKhorayef's official visit to China is part of an economic tour to East Asia, including China and Singapore. He is leading a ministry delegation with the aim of strengthening bilateral ties, attracting quality investments to Saudi Arabia, and exploring mutual investment opportunities in the industrial sector. The volume of Saudi non-oil exports to China in 2023 exceeded SAR28 billion, while the Kingdom's imports from China during the same year reached SAR160 billion. The most important Saudi exports to China included chemical products, plastics and their products, metal products, base metals and their products, and machinery and mechanical appliances. The most important imports from China to the Kingdom were machinery, electrical appliances and equipment, iron and steel. Source: Saudi Press Agency