Chinese diplomat condemns US tariffs as ‘abusive’ and warns of global trade damage

Chinese diplomat condemns US tariffs as ‘abusive’ and warns of global trade damage
Minister Counselor in the Embassy of China Ma Jian speaking at a media roundtable in Riyadh. AN
Short Url
Updated 10 April 2025

Chinese diplomat condemns US tariffs as ‘abusive’ and warns of global trade damage

Chinese diplomat condemns US tariffs as ‘abusive’ and warns of global trade damage
  • Minister Counselor in the Embassy of China Ma Jian says US tariffs are “economic bullying.”

RIYADH: US tariffs imposed on Chinese goods are “abusive” and damaging to global supply chains, a diplomat from the Asian country to has said.

Speaking at a media roundtable held in the Chinese Embassy in Riyadh, Minister Counselor Ma Jian said his country’s government expresses its strong condemnation and firm rejection of the measures taken by President Donald Trump. 

On Wednesday, the US government announced a three-month pause on all the “reciprocal” tariffs that had gone into effect — except those affecting China, which were raised to 125 percent, hours after Beijing boosted the duty on American goods to 84 percent.

Jian said the actions of the White House “violate basic economic rules and market principles and disregard the balance of interests reached in multilateral trade negotiations, and ignore the fact that the United States has long gained significantly from international trade.”

The official told Arab News: “The Chinese government expresses its strong condemnation and firm rejection of this action.”

He added: “The US’ abusive behavior by imposing tariffs seriously harms the trade system and the rules of the World Trade Organization and also harms the global economy. 

“Moreover, the abusive imposition of tariffs also causes damage to global supply chains and the multilateral trading system.”

Jian stated that analysis of data from the World Trade Organization shows that under this US policy, the gap between countries will widen, with less developed countries suffering more severe consequences.

“We demand and hope that the US side stops this wrong behavior and acts in response to the calls of the peoples of the world to achieve mutual benefit and greater development of the global economy,” Jian told Arab News.

When asked what, if any steps China will take to mitigate the tensions amidst the trade war with the US following the recent retaliatory tariffs, the Minister Counselor stated: “We will follow the path that the President (Xi Jinping) affirmed — of mutual respect, peaceful deliberation, and cooperation for mutual benefit — as a sign of developing relations with the US.”

He added: “However, we will take a few measures to safeguard our legitimate and reasonable rights and interests.

“The nature of cooperation and dealings between countries is mutual benefit.”

Jian said the US is using tariffs “as a weapon to exert maximum pressure and advance selfish interests,” adding: “These are acts of unilateralism, protectionism, and economic bullying.”

He went on to say that the “zero-sum game” the US has pursued under the pretext of pursuing “reciprocity” and “parity” is, by its very nature, a pursuit of “America First” and “American exceptionalism.”

The Minister Counselor added: “They aim to overthrow the existing international economic and trade order through tariffs.”

The diplomat went on to say: “They place American interests above the overall interests of the international community and serve American hegemony at the expense of the legitimate interests of other countries. They will inevitably be widely rejected by the international community.” 

China-US trade in goods has historically grown rapidly since their diplomatic ties were established in 1979.

UN figures show that in 2024 the volume of trade in goods between the two reached $688.28 billion — 275 times the volume of the trade in 1979 and more than eight times the volume of trade in 2001, when China joined the World Trade Organization.

In a regular press conference on April 8, foreign minister spokesperson Lin Jian said that China will take necessary measures to firmly safeguard its legitimate and lawful rights and interests. 

“If the US decides not to care about the interests of the US itself, China, and the rest of the world and is determined to fight a tariff and trade war, China’s response will continue to the end,” he said, adding: “China is not a seeker of trouble but make no mistake, when challenged we will never back down. Intimidations and threats never work with China.”


How Green Point transforms waste into sustainable gifts, recycles, and improves the environment in

How Green Point transforms waste into sustainable gifts, recycles, and improves the environment in
Updated 12 sec ago

How Green Point transforms waste into sustainable gifts, recycles, and improves the environment in

How Green Point transforms waste into sustainable gifts, recycles, and improves the environment in
  • Rising food and plastic waste threaten the environment and public health

RIYADH: Waste, be it food waste, plastic, or industrial byproducts, has severe negative effects on the environment, human health, and economies.

Globally, food loss and waste amount to more than 1 billion tonnes of all food produced every day, according to the statistics division at the United Nations. This crisis not only squanders water, land, energy, and labor but is also responsible for significant greenhouse gas emissions.

For example, food loss and waste contribute between 8 percent and 10 percent of global greenhouse gas emissions, also stressing land resources and biodiversity, as reported by the UN. Without urgent policy and behavioral changes, global waste generation is projected to grow dramatically.

This photo taken on June 19, 2025 shows residents throwing food waste into buckets next to a recycling collection truck in Taipei, Taiwan. (AFP)

According to the World Bank, solid waste is projected to increase by 70 percent by 2050 if urgent action is delayed, posing a threat to ecosystems, biodiversity, air quality, water quality, and human health.

In , the scale of waste is also alarming. Saudis generate about 1.7 kilograms of waste per day for each person, according to the Saudi Gazette in 2023, as the country produces about 7 million tonnes of plastic waste a year.

Food loss and waste in the Kingdom account for approximately 33 percent of the food produced, according to the same source, which corresponds to about 4 million tonnes annually, valued at approximately SR40 billion ($10.6bn)

Opinion

This section contains relevant reference points, placed in (Opinion field)

However, according to a 2024 report by the Saudi Press Agency, is moving to address these issues, as the ministry of environment, water, and agriculture has set ambitious targets to recycle up to 95 percent.

Additionally, the country aims to eliminate 82 percent of existing waste sites by 2035 as part of its push toward a circular economy model, as earlier reported in the Saudi

Such efforts demonstrate how the Kingdom is taking increasingly serious steps to reduce single-use plastics, promote recycling, and transform waste into value. One of the green methods to minimize waste is recycling materials into gift products.

Muhammed Tantawy, chief marketing officer of Green Point, in an interview explained how the Saudi-based company is helping organizations shift from wasteful practices toward meaningful, sustainable alternatives, especially in the domain of gift items.

Green Point transform pineapple skin into notebooks and leather keychains, and apple peels into vegan Polyurethane leather, which makes it a green alternative to animal-derived leather. (Supplied)

“A forward-thinking company dedicated to providing innovative and sustainable corporate gifts and solutions ... helping organizations adopt environmentally responsible practices by providing products that are functional, high-quality, and eco-friendly," said Tantawy, outlining Green Point’s core values.

According to him, the company values being built revolve around sustainability, innovation, and ethical sourcing. The company prioritizes recycled, renewable, and biodegradable materials to minimize waste, while promoting conscious consumption. This approach enables Green Point to avoid becoming another source of waste and focus on being part of the solution.

Some of Green Point’s sustainable gifts are produced locally, such as essence burners made from natural bamboo, which they believe is the only truly sustainable and eco-friendly wood. Another item made from recycled cotton, or felt, is a tote bag.

"Green Point contributes to building a greener, more sustainable future in line with the Kingdom's ambitious vision." Said Muhammed Tantawy, Chief Marketing Officer of Green Point. (Supplied)

Yet, what is more impressive is how the company recycles organic waste, which benefits the environment and is biodegradable.

For example, pineapple skin is transformed into notebooks and leather keychains, and apple peels into vegan polyurethane leather, which makes it a green alternative to animal-derived leather.

The company also processes coconut shells into bowls and cups, in addition to converting coffee beans into vegan leather substitutes.

DID YOU KNOW?

• Food loss and waste in the Kingdom account for approximately 33 percent of the food produced daily.

• is working to tackle food-waste issues through the Ministry of Environment, Water, and Agriculture, setting ambitious targets to recycle up to 95%.

• On a global scale, food loss and waste result in the waste of more than 1 billion tonnes of food a day, according to the UN.

But what makes Green Point align with Saudi Vision 2030 and the Kingdom’s sustainability goals is how the company supports the national agenda, Tantawy said.

According to him, they are “prioritizing eco-friendly and locally sourced materials and offering solutions that reduce single-use plastics and general waste.”

Even further, the CMO discussed one of their responsibilities towards a greener future, as they are promoting sustainability more broadly by educating clients about the environmental value of their products. This approach involves not just selling an item, but also raising awareness.

“Green Point contributes to building a greener, more sustainable future in line with the Kingdom’s ambitious vision,” Tantawy said.

They also process coconut shells into bowls and cups, in addition to converting coffee beans into vegan leather substitutes. (Supplied)

Overall, ’s Vision 2030 is not only focused on economic diversification and infrastructural development; it also emphasizes environmental sustainability while ensuring the establishment of a circular economy.

Because the Kingdom is committed to reducing plastic waste, promoting recycling and restoring degraded lands, and more importantly, increasing environmental awareness throughout society, Green Point illustrates how the private sector can play a role in the transformation process, by using waste and turning it into gift products, keeping practices green as well as ethical.

Through a sustainable approach, the company demonstrates that gifts are not only an expression of gratitude or celebration, but also an expression of care for the environment and the overall community in the Kingdom.

 

 


Pakistan eyes Saudi-linked port, shipping projects to boost Gulf–China connectivity

Pakistan eyes Saudi-linked port, shipping projects to boost Gulf–China connectivity
Updated 26 September 2025

Pakistan eyes Saudi-linked port, shipping projects to boost Gulf–China connectivity

Pakistan eyes Saudi-linked port, shipping projects to boost Gulf–China connectivity
  • Pakistan to draw up investment-ready roadmap linking Gulf, Central Asia, China through ports, rail and shipping
  • Maritime ministry says proposals include new terminals, direct shipping routes and green ship recycling yards

KARACHI: Pakistan is planning Saudi-linked port and shipping projects, including new gateway terminals, direct shipping routes and green ship recycling yards, as part of efforts to become a logistics bridge between the Gulf, Central Asia and China, the maritime ministry said on Friday.

Officials say Pakistan’s location at the mouth of the Arabian Sea gives it a strategic advantage in connecting Gulf energy exporters with China and the landlocked markets of Central Asia.

With Gulf–China trade volumes rising and regional shipping routes expanding, Islamabad is seeking to position its ports as key nodes in emerging transport corridors.

According to a statement from the maritime ministry, Technical Adviser for Maritime Affairs Muhammad Jawad Akhtar proposed several new projects with .

These included “Karachi–KSA and Gwadar–KSA Gateway Terminals, expansion of the Pakistan National Shipping Corporation fleet under Saudi partnership, start direct shipping lines from Karachi to Jeddah and Gwadar to Dammam, and establish 20 green ship recycling yards at Gaddani,” the maritime ministry statement said.

Karachi Port and Port Qasim — Pakistan’s two largest and busiest seaports handling most of the country’s container and cargo traffic — along with Gwadar Port, a Chinese-developed deep-sea port near the mouth of the Arabian Gulf, are seen as key to these plans.

Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said the effort was part of a broader plan to integrate Pakistan’s ports and logistics infrastructure with regional trade routes.

“We are not merely compiling lists of projects; we are shaping a national roadmap for logistics and connectivity,” he said.

“Pakistan performs best under compressed timelines, and this is one such moment.”

Chaudhry said Karachi Port, Port Qasim and Gwadar Port would be central to the plan, which aims to link them to regional transport corridors through rail, road and air networks. 

He highlighted the importance of the long-delayed ML-1 railway modernization project — a planned multi-billion-dollar upgrade of Pakistan’s 150-year-old main railway line from Karachi in the south to Peshawar near the Afghan border — expected to boost freight and passenger traffic from the northwest province of Khyber Pakhtunkhwa to southern ports.

He said Pakistan must align its development agenda with the connectivity needs of partner countries.

Chaudhry added that a joint working group bringing together the maritime, communications, railways and defense ministries would hold its first meeting next week to shortlist priority projects for rapid funding and development.

Other ministries outlined their own connectivity priorities. The communications ministry called for laying fiber optic cables along railway lines, expanding submarine cable networks and speeding up completion of the M-6 motorway — a 394-km section of Pakistan’s north–south highway network linking the port city of Karachi to Sukkur in interior Sindh province — described as a missing link in the China–Pakistan Economic Corridor (CPEC), a multibillion-dollar infrastructure and energy program that is part of China’s Belt and Road Initiative.

The communications ministry also highlighted plans for an M-10 motorway extension through the Khirthar mountains in southern Pakistan to complement existing road infrastructure.

A petroleum ministry representative said a $300 million feasibility study was underway for a new merchant oil terminal at Hub, an industrial town near Karachi, as part of Pakistan State Oil’s infrastructure expansion strategy.

Chaudhry urged ministries to deliver a clear, investment-ready roadmap that would attract international financing and cement Pakistan’s role as a “central bridge” connecting the Gulf with Central Asia and China.


Saudi finance firms’ credit up 10% as non-bank lending sector grows

Saudi finance firms’ credit up 10% as non-bank lending sector grows
Updated 26 September 2025

Saudi finance firms’ credit up 10% as non-bank lending sector grows

Saudi finance firms’ credit up 10% as non-bank lending sector grows
  • Finance companies have become pivotal in expanding credit access to Saudi consumers and SMEs
  • Individual finance accounted for the largest share of total credit facilities

RIYADH: Saudi finance companies’ outstanding credit reached SR99.37 billion ($26.5 billion) at the end of the second quarter of 2025, marking a 10.2 percent increase compared to the same period last year.

According to latest data from the Saudi Central Bank, also known as SAMA, this figure represents only about 3.12 percent of the total financing extended by the Kingdom’s commercial banks, underscoring the still-modest but growing footprint of non-bank lenders in the financial system.

Personal loans and auto financing dominated the portfolio of these companies, reflecting their consumer-centric focus. Individual finance accounted for the largest share at around 29 percent of total credit facilities, roughly at SR28.7 billion.

Auto financing was the second-biggest segment at about SR25.93 billion, followed closely by residential real estate loans, which comprised 23 percent or approximately SR23 billion of the total.

Other, smaller lending activities registered even faster year-on-year growth, albeit from a lower base. Credit card finance, for instance, jumped by about 31.5 percent over the year to reach SR2.12 billion, making it one of the fastest-growing segments.

Commercial real estate financing also saw a robust annual uptick of 22.8 percent, climbing to SR5.66 billion, as finance companies increasingly catered to property developers and businesses outside the traditional banking sector.

Loans classified under “other” rose by 14 percent to SR14.04 billion. This broad-based growth across categories indicates strong borrower appetite and an expanding role for finance firms beyond their core personal and auto loan offerings.

According to SAMA’s breakdown, the retail sector took the lion’s share of finance company lending, accounting for about 77 percent of total outstanding credit by these firms.

SAMA had noted in 2024 in its Financial Stability Report that such concentration presents a risk exposure, though roughly half of those retail loans are to public sector employees with stable incomes, which helps mitigate default risk.

Support for businesses — especially smaller enterprises — is a significant part of finance companies’ mission. Micro, small, and medium-sized enterprises together received nearly 19 percent of finance company credit as of the quarter, which is nearly double the proportion that SMEs typically represent in bank lending portfolios.

This underscores how non-bank lenders are closing the SME financing gap and supports Vision 2030’s diversification agenda, which seeks to broaden consumer and SME access to credit and lift SMEs’ share of bank lending to 20 percent by 2030.

By contrast, large corporates outside the SME category accounted for only about 4.4 percent of finance company credit, as big firms continue to rely mostly on banks or capital markets for their funding needs.

Key role for consumers

Finance companies have become pivotal in expanding credit access to Saudi consumers and SMEs, complementing banks by serving niche segments and underserved borrowers.

Though their loan book is only a fraction of the size of banks’, Saudi finance companies play an outsize role in financial inclusion. They are non-deposit-taking institutions that often serve niche markets and borrowers not fully reached by traditional banks.

In recent years, these firms have been instrumental in extending credit to underserved segments — from lower-income individuals seeking personal or installment loans, to entrepreneurs and small business owners who may lack the collateral or credit history to obtain bank financing.

The growing activity of finance companies, alongside new fintech lending platforms, is viewed as crucial to bridging this gap.

These non-bank finance firms also complement banks by taking on business models that banks might not pursue, such as leasing, microfinance, and buy now, pay later services.

As most Saudi finance companies are not allowed to take customer deposits, except in limited cases with SAMA’s prior approval, they fund their books largely through shareholder capital and wholesale funding which are bank credit lines and, where approved, sukuk or bond issuance, supplemented by retained earnings.

This structure tends to make their cost of funds higher than deposit-funded banks, so pricing and product design are calibrated to risk and speed, especially in the consumer, auto, and SME niches where exposures are often partially unsecured.

Their presence introduces more competition and choice in the credit market, provifing consumers with additional options for car loans or credit cards, and offering small businesses alternative financing when bank loans are out of reach.

Even though these companies’ overall market share is small, their impact on niche lending segments is significant, providing tailored financial solutions that complement the services of mainstream banks.

Their rapid growth in recent years has been underpinned by regulatory reforms and fintech innovation.

SAMA leading the way

SAMA has actively encouraged the expansion of this sector as part of the Financial Sector Development Program. A notable step came in January 2023, when the regulator halved the minimum paid-up capital requirement from SR100 million to SR50 million for new finance companies focusing on SME lending.

This move aimed to attract investors and enable more specialized lenders to launch operations targeting small businesses. Additionally, SAMA opened the door for new business models by licensing the first debt-based crowdfunding platforms and setting a low SR5 million capital threshold for BNPL providers, fostering a wave of fintech entrants.

Since 2022, rules have also been eased to allow finance companies to engage in multiple financing activities, such as consumer finance, real estate lending, and SME finance under one roof, rather than be restricted to a single line of business.

As a result of the pro-growth regulatory environment, the number of licensed finance companies in the Kingdom has climbed significantly. By the end of 2024, SAMA had authorized 62 finance companies operating across personal finance, mortgage, leasing, and fintech lending segments.

That momentum has continued into 2025 with SAMA’s latest licensing notice in September stating that, with the licensing of Muhlah Zamaniyah for consumer microfinance, “the total number of finance companies licensed by SAMA” reached 68.

Looking ahead, Saudi finance companies are poised for further expansion in line with the Kingdom’s Vision 2030 ambitions. Their agility in deploying fintech solutions, from instant consumer loans via mobile apps to revenue-based financing for startups, gives them an edge in reaching customer segments that value speed and flexibility.

At the same time, prudent oversight by SAMA, including updated governance and risk management frameworks, is helping ensure the sector grows sustainably.

With continued policy support and innovation, these non-bank lenders are set to deepen their role in ’s credit market, gradually increasing their 3 percent slice of the pie while empowering more consumers and entrepreneurs with access to financing.


Building Arabic AI from the ground up

Building Arabic AI from the ground up
Updated 25 September 2025

Building Arabic AI from the ground up

Building Arabic AI from the ground up
  • From language depth to data security, regional AI must reflect local values, priorities

ALKHOBAR: When unveiled Allam, its homegrown Arabic large language model, it sent a clear signal: the Kingdom is no longer content to simply consume global AI technologies. 

It intends to build its own. For many, this was a moment of pride — a proof that the Arab world can produce tools designed to understand its own languages, cultures, and contexts.

But experts caution that Allam is only the first step in a much longer journey. Success will not be determined by the models alone, but by the invisible foundations that support them: data, infrastructure, governance, and trust.

“You can’t capture the intent, emotion, and cultural depth of Arabic through translation,” said David Barber, director of the UCL Centre for Artificial Intelligence and Distinguished Scientist at UiPath. “You need systems that think in Arabic from the ground up.”

David Barber, director, UCL Centre for Artificial Intelligence; distinguished scientist at UiPath. (Supplied)

Barber highlights a stark reality: only about 15 percent of Arabic text online is clean enough for training a large language model, compared with over 50 percent for English — a huge head start for models like GPT or Claude. Complicating matters further are Arabic’s complex grammar, diverse dialects, and the common mixing of English and Arabic in a single sentence.

“When you train on noisy or shallow data, the system learns shortcuts,” Barber explained. “It can mimic fluency, but it misses the depth, the idioms, the cultural nuances, the rhythm of thought that makes Arabic distinct.”

For Barber, this underscores the importance of ’s push for locally sourced, high-quality datasets. Without them, any Arabic LLM risks becoming a shallow copy of English-language AI: competent at generic tasks but unable to capture the soul of the language it claims to represent.

Even the best data is ineffective if it cannot be properly organized, secured, and delivered to the model. Seema Alidily, regional director at Denodo, said Gulf enterprises still face major challenges here.

“Without localized infrastructure, AI systems risk misunderstanding user intent or producing irrelevant outputs,” she said. “Data virtualization is one of the few ways to unify governance and access across cloud and on-site systems without moving sensitive information.”

Seema Alidily, regional director, Denodo. (Supplied)

Practically, this means investing in platforms that can pull data from dozens of scattered sources — from ERP systems to IoT sensors— and present it in a unified view for AI to use. In , where Vision 2030 projects depend on massive, real-time datasets, this approach is critical, especially given strict regulations on handling citizen data.

Alidily warned that merely replicating Western infrastructure may not suffice. “In the Gulf, centralized visibility and compliance must come first,” she noted. “It is not just a technical issue, it is about aligning with the legal, cultural, and regulatory expectations of the region.”

For Bader AlBahaian, country manager for at VAST Data, the stakes go beyond efficiency — they touch on independence and security.

“If we depend exclusively on external platforms, we risk importing their policies and their priorities, often at the expense of regional needs,” he said.

Bader AlBahaian, country manager, , VAST Data. (Supplied)

AlBahaian advocates for “sovereign-by-design” systems: storage and compute architectures that keep sensitive data within national borders, encryption and access controls that satisfy local regulators, and AI models trained under rules set by the Kingdom rather than a foreign vendor.

“It is not just about where the data sits,” he added. “It is about who gets to define how it is used, who takes responsibility when something goes wrong, and who has the power to switch the system off if necessary.”

This question of sovereignty is becoming urgent as AI begins to shape decisions in finance, healthcare, education, and public policy. A misaligned model trained on foreign data could issue recommendations that contradict local priorities — or worse, expose the region to economic or political risks.

But building perfect infrastructure is only half the challenge. Success ultimately depends on how AI is deployed.

“Digital labor will allow businesses to have much deeper relationships with their customers,” said Ibrahim Alseghayr, managing director of Salesforce . “And by taking on so much of the routine work, AI frees humans to focus on collaboration, creativity, and critical thinking.”

Ibrahim Alseghayr, managing director of Salesforce . (Supplied)

Alseghayr points to Agentic AI — systems that can act on a company’s behalf — as already transforming service centers, financial operations, and citizen engagement platforms. In , he sees huge potential for digital labor in scaling mega-projects like Neom, automating logistics networks, and delivering smarter healthcare services.

He cautioned that this transformation must be carefully managed. “We need strong governance, testing environments, and continuous oversight,” he said. “Otherwise, we risk building tools we do not fully understand, and that could erode trust instead of building it.”

Across all four experts, one theme is clear: global rules and imported frameworks will not suffice. The Arab world must craft its own AI governance models, rooted in its cultural and legal realities.

For Barber, Allam is a test case. “This is the Kingdom’s chance to prove that it can build systems that are not only technically powerful but also aligned with its values,” he added.

DID YOU KNOW?

• Arabic’s complex grammar, dialect diversity, and frequent English–Arabic mixing make it one of the hardest languages for AI to master. 

• ’s Allam is the first homegrown Arabic large language model, designed to think in Arabic rather than translate from English. 

• Vision 2030 projects depend on real-time data, but regulations require strict handling of citizen information.

“Agentic AI can create personalized treatment plans, autonomously monitor patients, and detect early signs of health deterioration before a doctor ever enters the room,” he said.Alidily agrees, emphasizing that governance frameworks must reflect the Gulf’s unique data protection requirements, with regulators working closely with technology providers to define shared standards.

AlBahaian is even more direct. “Trust is earned through systems, not slogans. People need to know where their data is, who is using it, and for what purpose. That is the only way to build confidence at scale.”

The message is clear: Arabic AI’s future will not be decided by model size alone. It will depend on investments in infrastructure, sovereignty, and governance.

has taken the first step with Allam. What comes next — the data pipelines, virtualized infrastructure, sovereign controls, and digital labor deployments — will determine whether the Kingdom becomes a true AI creator or remains a buyer of foreign-built intelligence.

 


, China seal $1.74bn investment deals at Beijing forum 

, China seal $1.74bn investment deals at Beijing forum 
Updated 25 September 2025

, China seal $1.74bn investment deals at Beijing forum 

, China seal $1.74bn investment deals at Beijing forum 

JEDDAH: and China signed 42 investment agreements worth over $1.74 billion across advanced industries, smart vehicles, and energy.

The deals, which also covered medical devices, equipment, and mineral resources, were inked at the Saudi-Chinese Business Forum in Beijing, attended by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, as part of his official visit.

Organized by the Federation of Saudi Chambers, the forum gathered around 200 companies and public and private sector representatives from both countries, the Saudi Press Agency reported. 

This follows growing bilateral trade between and China, which surpassed SR403 billion ($107.5 billion) in 2024 — more than doubling in less than a decade — driven by shared goals such as Saudi Vision 2030 and China’s Belt and Road Initiative. 

In a post on his X handle, Alkhorayef said: “During my participation in the Saudi-Chinese Business Forum in the capital, Beijing, I affirmed the strength of the partnership between our two friendly nations, and the Kingdom’s keenness to expand this partnership to support our goals in industry and mining, strengthen international supply chains, and enhance our presence as an economic force contributing to the growth of the global economy.” 

He noted remains a key supplier of fuel, petrochemicals, and advanced materials, while China is the largest source of machinery, electronics, transport equipment, and consumer goods, with trade increasingly diversifying into high-value industries. 

The minister highlighted that Chinese investment in grew about 30 percent in 2024, surpassing SR31 billion, with growth in mining, automotive manufacturing, and petrochemicals. More than 750 Chinese companies operate in the Kingdom, including investors in NEOM, Jubail Industrial City, and Jazan City for Primary and Downstream Industries.  

Conversely, Saudi investments in China exceed SR8 billion, alongside memorandums of understanding with Chinese financial institutions valued at $50 billion. 

Alkhorayef emphasized the alignment of Vision 2030 with the Belt and Road Initiative to enhance connectivity, expand trade, and build resilient industrial systems.  

He added that efforts are underway to establish new supply chain corridors linking Asia with the Middle East, Africa, and Europe, reinforcing ’s role as a global industrial and logistics hub.