Saudi Arabia, China Sign $1.74 Billion Investment Deals to Boost Industrial, Mining Sectors

Saudi Arabia and China have signed 42 investment agreements worth more than $1.74 billion during the Saudi-Chinese Business Forum in Beijing. The deals cover advanced industries, smart vehicles, medical devices, energy solutions, equipment manufacturing, and mineral resources.
Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted the rapid growth in Saudi-China economic ties, noting that bilateral trade reached SR403 billion in 2024—more than double within a decade. He stressed that Saudi Arabia remains China’s top supplier of fuel and petrochemicals, while China continues to dominate Saudi imports with machinery, electronics, and transportation equipment.
Alkhorayef emphasized strong investment growth, with Chinese investment in the Kingdom rising by 30% in 2024 to exceed SR31 billion. Over 750 Chinese companies now operate in Saudi Arabia, contributing to projects such as NEOM and industrial cities like Jubail and Jazan. Saudi investment in China also crossed SR8 billion, supported by strategic cooperation agreements worth $50 billion.
He underlined the alignment between Saudi Vision 2030 and China’s Belt and Road Initiative, especially in areas such as food security, pharmaceuticals, military industries, energy, and advanced technologies including AI and additive manufacturing.