1st LD: Chinese premier encourages Saudi companies to continuously deepen presence in Chinese market

Riyadh: Chinese Premier Li Qiang on Wednesday urged Saudi companies to deepen their involvement in the Chinese market, and invest with greater confidence. Li made the remarks in a meeting with representatives of the Saudi business community including Saudi Public Investment Fund, Saudi Arabian Oil Company, Saudi Basic Industries Corporation, ACWA Power, and the Ajlan & Bros Holding Group. Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi, Minister of Investment Khalid Al-Falih, and representatives from the China-GCC (the Gulf Cooperation Council) joint investment commission also attended the meeting. The China-Saudi Arabia economic and trade cooperation is facing many favorable conditions for further deepening, Li pointed out, adding that entrepreneurs from both countries should seize the opportunities and play a bigger role. He encouraged Saudi companies to expand and strengthen cooperation with China in traditional sectors such as oil and gas, petrochemicals, infrastructure, and trade, whil e 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 added. 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. Source: The Namibia News Agency