Saudi Arabia to Establish Regional Center for Chinese Factories in Riyadh

Saudi Arabia to Establish Regional Center for Chinese Factories in Riyadh

Saudi Energy Minister Prince Abdulaziz bin Salman said on Wednesday that relations between Saudi Arabia and China are witnessing a paradigm shift, which reflects the keenness of both countries’ leaderships to develop them.

Prince Abdulaziz said both sides seek to bolster cooperation in the energy supply chains by establishing a regional center in Saudi Arabia for Chinese factories to benefit from its distinguished location that links three continents.

The minister spoke as the Chinese leader visited the Kingdom.

In remarks to the Saudi Press Agency SPA about holding the Saudi-Chinese Summit in Riyadh, Prince Abdulaziz said Riyadh has strong and close strategic relations with Beijing in many fields, the most important of which is energy.

China has become the top destination for Saudi oil exports as part of their high volume of trade exchange, with continued annual growth over the past five years, he said, adding that Saudi-Chinese energy ties include multiple joint investments.

Prince Abdulaziz further pointed to the efforts of both countries to enhance bilateral cooperation in the fields of energy.

He stressed that cooperation between China, the world's biggest energy consumer, and the Kingdom, the world’s top oil exporter, had helped maintain global oil market stability.

“The Kingdom will remain, in this area, a