The Chinese ambassador to Saudi Arabia, Zhang Hua, expressed China's desire to strengthen cooperation with the Kingdom, especially in the production of electric vehicles and other industries. He noted that China's economy has risen from $30 billion to $17.8 trillion, making it the second-largest economy in the world and a leader in trade and industry. Zhang emphasized China's goal of maintaining a high level of openness, driving high-quality economic development, and promoting a multipolar world with fair global governance and comprehensive economic globalization.
Zhang described the partnership between Saudi Arabia and China as entering a new phase of deep development and congratulated Saudi Arabia on its 94th National Day. He pointed out that the recent visit of Chinese Premier Li Qiang to Saudi Arabia strengthened bilateral relations and promoted a comprehensive strategic partnership towards a more stable and prosperous future.
The ambassador stressed the need to expand trade and investment between the two countries and highlighted the upcoming '2025 Saudi-Chinese Cultural Year' as a major event. Zhang also noted that Saudi Crown Prince Mohammed bin Salman values the strong and historical relationship between the two countries. Furthermore, he mentioned that China is the largest trading partner of Saudi Arabia, with bilateral trade exceeding $100 billion in the past two years.
In 2023, Saudi imports of Chinese cars reached $4.12 billion, driven by companies such as Changan, Geely, MG, Chery, Great Wall, Hongqi, GAC, and BYD, which have established branches in the Kingdom. Discussions are underway regarding building local manufacturing plants. China exported 4.91 million vehicles in 2023, becoming the world's largest car exporter for the first time, including 1.203 million electric vehicles, a 77.6% increase from the previous year.
Zhang noted that Saudi Vision 2030 aims for electric vehicles to constitute at least 30% of all cars in Riyadh by 2030, and he expressed optimism about enhancing cooperation in vehicle manufacturing.
