Envoy: Chinese economy moves into new era

RIYADH: Chinese Ambassador Lee Ching-Wen dismissed claims about the deterioration of the Chinese economy and explained that it has moved into a new era focusing on quality and sustainability.
The envoy was speaking to members of the Saudi-Chinese Business Council (SCBC) at the Council of Saudi Chambers (CSC) recently, where the two sides discussed ways to create a better economic future for both.
He said China is unifying social class across all regions of China, which requires more openness to international markets.
Saudi Arabia has been the largest trade partner and exporter of crude oil to China in Africa and West Asia. Likewise, China is a key trade partner to the Kingdom.
The ambassador assured that his country will continue to import Saudi oil and collaborate with the Kingdom to ensure stabilizing of declining oil prices by developing convenient mechanisms.
He pointed out that the Silk Road project aims to enhance cooperation with Saudi Arabia and other countries in the region due to its distinguished geographic and economic position. “The two countries share a lot in common, including rapid economic development, which will be further enhanced once the Silk Road project is implemented,” the envoy added.
During the meeting, SCBC’s former Chairman Abdulrahman Al-Jeraisy was honored for his notable efforts in boosting the relations between China and the Kingdom.
Expressing his gratitude for the gesture, Al-Jeraisy said he will continue his efforts to promote bilateral trade in many new areas.
The meeting concluded with an open session on methods to enhance Saudi-Chinese relations and to remove obstacles that hinder them from further progress.