Promote China and Saudi Arabia to jointly build the "the Belt and Road" and achieve stability

release time:2023/10/31

At the third "the Belt and Road" International Cooperation Summit Forum held a few days ago, several cooperation projects related to Saudi Arabia were included in the list of practical cooperation projects of the Summit Forum, which fully shows that China and Saudi Arabia are constantly achieving positive results in the high-quality joint construction of the "the Belt and Road".
Saudi Arabia is one of the first countries to respond, support and participate in the joint construction of the "the Belt and Road". Saudi leaders have said on many occasions that they are willing to strengthen the docking of development strategies with China and constantly deepen cooperation in jointly building the "the Belt and Road".   Guided by the strategy of the two heads of state, China and Saudi Arabia have achieved fruitful results in jointly building the "the Belt and Road".
China supports a series of major development initiatives such as Saudi Arabia's "2030 Vision" and "Green Middle East", actively participates in Saudi Arabia's industrialization process, and assists in Saudi Arabia's diversified economic development. The two governments have signed a memorandum of understanding on the joint construction of the "the Belt and Road", and an implementation plan for the joint construction of the "the Belt and Road" initiative and the "Vision 2030". Under the framework of the joint construction of the "the Belt and Road", relevant departments of the two countries have signed several cooperation agreements in the fields of energy, infrastructure, investment, transportation, communication and information technology.
Chinese enterprises are deeply involved in infrastructure construction in Saudi Arabia, covering multiple fields of business. The Mecca Light Rail, constructed and operated by China Railway Construction Corporation, is the first light rail railway in Saudi Arabia. The commercial port of Jizan Economic City, which is designed, constructed, and invested and operated by China Harbour Company, drives maritime trade in the southwestern region of Saudi Arabia. Multiple Chinese companies have participated in the construction of Saudi Arabia's New Future City related projects, bringing Chinese concepts, technology, and quality to Saudi Arabia's future city model.
The two countries have strong economic complementarity and enormous potential for cooperation. China has become Saudi Arabia's largest trading partner since 2013, with bilateral trade volume increasing by 61% in the past 10 years. Saudi Arabia has long been one of China's major crude oil suppliers and has been China's largest trading partner in the Middle East for more than 20 consecutive years. The Saudi Arabian Al Schubach 2.6 gigawatt photovoltaic project undertaken by China Energy Construction Gezhouba International Company is the world's largest photovoltaic power station under construction. After completion, it will reduce carbon emissions by approximately 3.12 million tons annually, making it a benchmark project for Saudi Arabia's energy transformation. Chinese technology companies have also conducted fruitful cooperation with Saudi Arabia in areas such as big data, cloud computing, artificial intelligence, and smart city construction to assist in the digital transformation of Saudi Arabia's economy.

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