TMTPost -- Chinese Premier Li Qiang welcomes Saudi Arabian companies’ further investments in China, ranging from the kingdom’s traditional industries like oil and gas to emerging sectors including the digital economy.

Credit：Xinhua News Agency

During a meeting with representatives of the Saudi business community, Li urged Saudi companies to deepen their involvement in the Chinese market, and invest with greater confidence, according to the state media Xinhua News Agency. Participants of the meeting include Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi, Minister of Investment Khalid Al-Falih, Saudi Public Investment Fund, Saudi Arabian Oil Company, Saudi Basic Industries Corporation, ACWA Power, and the Ajlan &Bros Holding Group. Representatives from the China-GCC (the Gulf Cooperation Council) joint investment commission also attended the meeting. urged Saudi companies to deepen their involvement in the Chinese market, and invest with greater confidence.

Li encouraged Saudi companies to expand and strengthen cooperation with China in traditional sectors such as oil and gas, petrochemicals, infrastructure, and trade, while enhancing cooperation in emerging and future industries like the digital and green economies. Furthermore, Li said, the Saudi companies should actively serve as bridges to enhance friendship and mutual understanding between China and Saudi Arabia, and advance the China-Saudi Arabia comprehensive strategic partnership to new heights.

The Chinese government is committed to building a top-tier business environment that is market-driven, law-based and internationally oriented, Li stated.China will further relax market access, fully lift restrictions on foreign investment in the manufacturing sector, accelerate the opening of service sectors like telecommunications, and provide robust support for foreign enterprises, helping them establish a stronger presence in the country and achieve success in China, said the Chinese Premier.

Li observed China is steadily pushing forward the digital, intelligent, and green transformation and upgrading its industries. The Premier then noted technological innovation in such fields as artificial intelligence, cloud computing, and bio-medicine remains vibrant, which will create new economic growth drivers and foster numerous high-growth companies as he tries to woo Saudi Arabian capital.

Li made the remarks during his trip to Saudi Arabia to Chair the Fourth Meeting of the High-Level Chinese-Saudi Joint Committee from September 10 to 13.The Premier is also scheduled to visit Saudi Arabia and the UAE in his travel.

As he co-chaired  Fourth Meeting of the High-Level Chinese-Saudi Joint Committee, Li met with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud, another co-chair. Li told the Crown Prince that  China puts the development of relations with Saudi Arabia as a priority in its overall diplomacy, especially in its Middle East diplomacy, according to a separate Xinhua report.

During the meeting, Li  called on both sides to further expand bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure, explore collaboration in emerging fields like new energy, information and communication, and the digital and green economies, while encouraging their respective companies to invest in each other's countries and working together to maintain global industrial and supply chain stability.

China is willing to firmly support each other with Saudi Arabia and work towards mutual achievements, firmly regard each other's development as an important opportunity, and further strengthening the role of the High-Level Chinese-Saudi Joint Committee, with the aim of advancing bilateral relations to new heights and continuously improving the well-being of both peoples, said Li.