Saudi-Chinese Financial Sub-Committee Meets to Strengthen Economic Cooperation

KSA, 22 May, 2024 : The Financial Sub-Committee for the High-Level Chinese-Saudi Joint Committee held its third meeting on May 20, 2024. Chaired by Saudi Minister of Finance Mohammed Aljadaan and Chinese Minister of Finance Lan Fo'an, the meeting included senior officials from both nations.

Discussions focused on the macroeconomic situation and bilateral and multilateral cooperation. Minister Aljadaan emphasized the importance of the Committee in enhancing Saudi-China cooperation, noting China's role in Saudi Arabia's economic transformation.

In his speeches, Minister Aljadaan highlighted the need for a clear macroeconomic policy to promote stability and growth, and stressed the potential for innovation and technical cooperation in AI, renewable energy, and smart cities. He also underscored the importance of disciplined reforms and strong public sector governance, leveraging private sector expertise.

Minister Aljadaan concluded by reiterating Saudi Arabia's commitment to enhancing economic policy coordination through its chairmanship of the IMFC at the IMF. He praised the enduring friendship and cooperation between Saudi Arabia and China and thanked the Chinese delegation for their hospitality.

Source : www.mof.gov.sa