<img src='https://news.cgtn.com/news/2024-11-01/Saudi-Arabia-seeks-closer-green-ties-with-China-finance-minister-says-1yaqjYTbGdq/img/00a81abb1e0b4791989db7ff596f82f8/00a81abb1e0b4791989db7ff596f82f8.png' alt='Saudi Arabia's Finance Minister Mohammed Al-Jadaan. /CFP'
Saudi Arabia is keen to learn from and strengthen its cooperation with China in the green industry, Finance Minister Mohammed Al-Jadaan stated on Thursday.
“China is leading the whole world in the green industry and renewable energy. There are a lot of technologies, cars, batteries and robotics that the world is trying to follow,” Al-Jadaan told Xinhua at the 8th Future Investment Initiative conference, which began on Tuesday.
“We are trying to have an even more cooperative approach between us and China,” the minister added.
Describing the Saudi-China partnership as “strategic” and “very important,” Al-Jadaan noted that China is Saudi Arabia’s largest trading partner. “This relationship extends beyond trade; it encompasses technology, broader economic ties and cultural exchange.”
Reflecting on his visit to China in May, the minister expressed admiration for the “first-hand developments, the significant achievements” within the Chinese economy. He highlighted the fruitful discussions and bilateral agreements signed in financial services and other sectors during that trip.
The recent designation of 2025 as the Saudi-China Year of Culture is “a significant sign that it (the partnership) is not only government-to-government, but people-to-people,” he emphasized.
Al-Jadaan pointed out the synergies between China’s high-quality development philosophy and Saudi Arabia’s Vision 2030, noting that both are long-term initiatives supported by strong governmental backing. “China is the envy of the world for its commitment, execution capability and long-term vision,” he remarked.
In response to recent Western reports suggesting that China’s economy has peaked and its growth model is exhausted, Al-Jadaan dismissed these claims, stating, “China has been the very bright spot in the world economy, and the world recognizes this.”
“Despite all the talks in the media about the Chinese economy slowing down, it is growing at 4.8 percent… It’s one of the fastest-growing economies despite all the challenges,” he said.
Al-Jadaan praised the Chinese government’s “serious support” for its economy, pointing to recent stimulus packages, particularly in the financial sector, as evidence of a responsive government. “They understand the current economic landscape,” he added.
Amid escalating global conflicts, Al-Jadaan expressed satisfaction with Saudi Arabia’s collaboration with China to promote calm and de-escalation, benefiting both regional and global populations.
He added that, alongside international institutions like the International Monetary Fund and the World Bank, and under frameworks such as the Group of 20, Saudi Arabia and China could jointly address challenges faced by the Global South, particularly for low-income and emerging economies.
“We have very clear and common grounds on making sure that we (not only) do what is right for our people, for our economies, but also for the rest of the world to make sure that we have stability and growth,” he concluded.
(With input from Xinhua)
