(12 Dec 2023)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Beijing – 12 December 2023
1. Various of China-Saudi Investment Conference
2. Wide of Chinese Vice Minister of Commerce Li Fei approaching podium
3. Wide of Li speaking
4. SOUNDBITE (Mandarin) Li Fei, Chinese Vice Minister of Commerce:
“First of all, we should adhere to Belt and Road cooperation as the driving force and actively implement China’s actions to support the high-quality building of the Belt and Road which was presented by President Xi Jinping. We should deeply connect these actions with Saudi Arabia’s 2030 vision, encourage enterprises of both sides to carry out investment cooperation under the principle of marketisation, and promote the stability and smoothness of the supply and industry chains of China-Saudi Arabia.”
5. Various of audience
6. SOUNDBITE (Mandarin) Li Fei, Chinese Vice Minister of Commerce:
“We should focus on deepening innovative cooperation, embrace a new round of technological revolution and industrial transformation, strengthen cooperation in cutting-edge fields such as artificial intelligence and life sciences, quantum information, and high-end manufacturing. We should jointly develop new tracks, create industry unicorns, and create a new paradigm of mutually beneficial investment cooperation between China and Saudi Arabia.”
7. Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih approaching podium
8. Wide of Al-Falih speaking
9. SOUNDBITE (English) Khalid bin Abdulaziz Al-Falih, Saudi Minister of Investment:
“I invite you to seize some of the most unique and inspiring investment opportunities in Saudi Arabia, exceeding 3 trillion U.S. dollars, ranging from renewable energy to advanced manufacturing, from mining to logistics, from connectivity to cutting-edge digital technology, healthcare, biotech, and from space to tourism and culture.”
10. Audience
11. Wide of Al-Falih speaking
12. SOUNDBITE (English) Khalid bin Abdulaziz Al-Falih, Saudi Minister of Investment:
“We invite Chinese companies to participate in the supply chain of the auto sector, including of course, batteries, which can further be extended to energy storage applications.”
13. Al-Falih leaving stage
14. Audience
15. Various of Al-Falih posing for photos with Chinese and Saudi business representatives, audience taking photos
STORYLINE:
The China-Saudi Investment Conference launched on Tuesday in Beijing, coinciding with a visit by Saudi Investment Minister Khalid Al-Falih.
Senior officials, CEOs, investors and entrepreneurs from the two countries were expected to review and discuss investment opportunities and initiatives aimed at fostering increased cooperation.
China’s Vice Minister of Commerce Li Fei told the conference that China will work with Saudi Arabia to connect the Belt and Road Initiative – which aims to create new trade routes with Africa and Europe – with Saudi Arabia’s Vision 2030.
In his speech, Al-Falih encouraged Chinese investors to “seize” opportunities in Saudi Arabia.
The conference planned to cover topics such as clean energy, finance, investment, mining, metals, tourism, entertainment, food security, agriculture, logistics services, shipping, supply chains, the digital economy, and artificial intelligence, according to the organiser.
China is Saudi Arabia’s leading trading partner, while Saudi Arabia is China’s biggest crude oil supplier.
Last year bilateral trade exceeded 106 billion US dollars, a 30% increase year on year compared to 2021.
AP Video shot by Wayne Zhang
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