China ties not restricted to trade
JEDDAH: Deputy Crown Prince Mohammed bin Salman started a three-day official visit to China, at the invitation of Chinese Vice Premier Zhang Gaoli, according to Chinese news agency Xinhua.
China’s Foreign Ministry spokesperson Lu Kang told Xinhua that the Saudi deputy crown prince and Zhang will jointly chair the first high-level Saudi-Chinese Joint Committee meeting.
The deputy crown prince will also attend the G-20 summit, which will be held in Hangzhou, eastern China, on Sept. 4 and 5.
The deputy crown prince’s visit to China is of utmost importance as it will be addressing vital issues in various areas, including economic cooperation and partnership.
According to political observers, the strategic relations between the Kingdom and China are bound to deepen through the signing of important agreements recently announced by the Council of Ministers. These agreements mark a qualitative transformation of investments in the Kingdom, as enshrined in Vision 2030.
Observers also say that the Chinese business and the public sector are keen on Prince Mohammed’s visit, during which several meetings of different levels will be held and mutually beneficial agreements that will strengthen relations between China and the Kingdom will be signed.
Recently the relations between the two countries have become more nuanced, assuming politicostrategic dimensions. Earlier their ties were limited to commerce.
The relations between the two countries were given further boost by Chinese President Xi Jinping’s visit to the Kingdom earlier this year.
The visit of the deputy crown prince is proof of the growing relations between the two countries, which are no longer limited to trade.
The Kingdom has given Chinese investors special privileges, including excluding them from the classification of contractors and facilitating their entry into the Kingdom.
China’s foreign minister also promised to give Saudi investors special privileges and remove any hurdles in their dealings with China.
The Kingdom receives special attention from China due to its geographic location and China’s plan for its Silk Road initiative.
China has expressed willingness to play a role in the implementation of Vision 2030. It is a major economic power and both Beijing and Riyadh enjoy economic stability at a time when world economy is facing instability.
During the deputy crown prince’s visit, the Kingdom and China will sign agreements on transfer of technology, and oil and energy storage, which will mark a major transformation for the Saudi economy and increase its strength.
China’s ambassador to Riyadh Li Huaxin said that despite the Kingdom being the last Arab country to start diplomatic relations with China, the two countries have greatly improved their relations in recent years and that there have been several trade and cultural exchanges between the two countries.
There are more than 160 Chinese companies in the Kingdom, which have invested in railways, construction sector, ports, electricity and communications.