Jointly Writing a Beautiful Chapter of Cooperation between China and Saudi Arabia "(Witnessing China's Opportunities)

China has a stable and smooth industrial and supply chain system. China is accelerating the development of new quality productive forces, and future development will be characterized by technological innovation and sustainable development. We are optimistic about the prospects for high-quality economic development in China, "said Mohammed Qatari, downstream business president of Saudi Aramco, in a recent interview with our reporter.

Saudi Aramco is a globally integrated energy and chemical enterprise, with downstream businesses mainly focused on energy trading, petrochemical product production, and retail operations. Saudi Aramco has a long-standing partnership with its Chinese partners. Katani stated that China's vast market, comprehensive manufacturing system, abundant labor resources, and talent reserves provide enormous opportunities for foreign-funded enterprises to develop in China.

In 2016, the Yanbu Refinery Project, jointly funded by Sinopec and Saudi Aramco, was officially put into operation; The second phase of the Fujian Gulei Refining and Chemical Integration Project, jointly built by Fujian Province, Sinopec, and Saudi Aramco, has started construction in November 2024... Katani said, "These collaborations have promoted the complementary advantages of the participating parties, achieved mutual benefit and win-win results, and jointly written a beautiful chapter of cooperation between Saudi Arabia and China

As a model project of cooperation between Saudi Arabia and China, Yanbu Refinery's production and operation have reached a world leading level, which is helping Saudi Arabia's economic transformation and upgrading, and benefiting local people's livelihoods. In addition, the Jizan industrial cluster on the west coast of Saudi Arabia, the world-class shipping yard and energy park in the eastern province of Saudi Arabia, have all attracted excellent enterprises from China, "said Katani. Baosteel Group, a subsidiary of China Baowu Iron and Steel Group Co., Ltd., has signed contracts with Saudi Aramco and the Saudi Public Investment Fund to jointly build the world's first green and low-carbon full process thick plate factory in Saudi Arabia.

Katani stated that Saudi Aramco has comprehensively considered its foreign investment strategy from various aspects such as energy demand, economic growth, population size, and living standards. From downstream integrated manufacturing to advanced emission reduction technologies, and even in the digital field, China is one of our most important strategic partners, "said Katani. As the world's second-largest economy, China plays a crucial role in the Asia Pacific region. In Saudi Aramco's global investment strategy, Asia, especially China, holds a special position. We hope to become a partner in China's high-quality economic development process

"Energy cooperation has become a major area of cooperation between Saudi Aramco and China, but our vision for future cooperation between Saudi Arabia and China goes beyond that." Katani said that China's initiative to jointly build the "the Belt and Road" is highly consistent with Saudi Arabia's "2030 Vision". Saudi Arabia actively participates in the joint construction of the "the Belt and Road" and is committed to promoting China's connectivity and trade exchanges with Europe and Africa. Welcome Chinese companies to invest and establish factories in Saudi Arabia. In fact, many Chinese companies have invested in and participated in the construction of various energy, infrastructure, and supply chain projects in Saudi Arabia, "said Katani.

Katani said that under the framework of high-quality joint construction of the "the Belt and Road", Saudi Arabia China cooperation has been continuously upgraded and expanded to digital and sustainable development. Both parties will utilize digital, communication, and smart city technologies, relying on telecommunications infrastructure and e-commerce platforms, to promote interconnectivity and economic and social development. Looking ahead to the future, cooperation between Saudi Arabia and China has broad prospects and numerous opportunities. "The two sides will continue to work hard to further promote the in-depth connection between the high-quality joint construction of the the Belt and Road and the Saudi Arabia's Vision 2030, so as to contribute to common development and prosperity," Katani said.