Chinese, Saudi Arabian companies sign agreements at Beijing-Saudi Advanced Manufacturing Conference held in Beijing [Photo provided to CEN]

by Xiong Weisheng

BEIJING, May 9 (China Economic Net) - In a latest effort to turbocharge partnerships in the advanced manufacturing sector, top Chinese and Saudi companies signed eight agreements at a bilateral business promotion event in Beijing on Friday, part of the ongoing Beijing International Investment and Trade Conference.

The deals, inked among government bodies and companies such as Saudi Arabia’s National Industrial Development Centre, Midea, and Chaifu Robotics, cover robotics, smart home appliances, cross-border finance, and consultancy.

Such cooperation is a "good alignment" with Saudi Arabia’s national economic diversification initiative Vision 2030, Khalid Al-Hmoud, executive vice president of the country’s National Industrial Development Centre (NIDC) said during an interview with China Economic Net (CEN).

"It is a win-win situation between the two countries, where the Chinese manufacturers can reach other markets within the Mena region, not only Saudi Arabia, and Saudi Arabia can develop its industrialisation landscape," Khalid told CEN.

Chinese businesses and Saudi Arabian government officials discuss investment opportunities [CEN/ Xiong Weisheng]

Beyond traditional cooperation on oil, gas, and chemicals, the focus is also pivoting towards high-tech and advanced manufacturing. For example, top Chinese PC maker Lenovo signed a $2 billion deal with Alat in February, a subsidiary of the Kingdom’s Public Investment Fund (PIF), to establish a major manufacturing facility in Riyadh, with a production capacity of millions of PC units starting from 2026.

"We expect more such agreements to take place," Osama Kokandy, vice chairman of the Saudi-China Business Council, told CEN reporter in an exclusive interview.

Osama noted, "In a few days, we’re going to have another Saudi-China event, but this time with a focus on agriculture," adding that the Council has played a significant role in facilitating many such bilateral agreements.

Under the Vision 2030 initiative, the Kingdom aims to diversify its economy and modernise society, with its industrial GDP tripling to reach 895 billion Saudi Riyals (approx. $238 billion) by 2030.

Data shows that Saudi Arabia has been the largest trading partner of China in the Middle East since 2001. Bilateral trade volume has surpassed $100 billion annually in the past three years.