China-Saudi Arabia Ties: Nations seek to better relations with tangible steps

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02:09

Staying with the crown prince's visit. A new pattern of cooperation between China and Saudi Arabia is taking shape as the two nations strive to enrich their comprehensive strategic partnership. Senior officials from both countries met in Beijing on Thursday and discussed how to enhance their economic cooperation with concrete steps. Zou Yun has the story.

Hope without action is like a tree without fruit, a famous Arabic proverb quoted and echoed by senior officials from both sides at the China and Saudi Arabia Economic and Financial Dialogue Thursday.

Both sides agreed to carry out tangible steps to enhance bilateral ties and make the tree of cooperation fruitful and prosperous.

Zou Jiayi, Chinese Vice Finance Minister said China looks forward to further strengthening its economic relationship with Saudi Arabia.

Areas of focus include deepening communication on macro-economic policies, providing finance and taxation support for investments, as well as using constructive cooperation to fight protectionism and unilateralism.

ZOU JIAYI CHINESE VICE FINANCE MINISTER "With the global economy facing greater downward pressure and multilateralism facing more risks, both China and Saudi Arabia should uphold multilateralism firmly, and consolidate the role of the G20 as the major platform for economic cooperation."

Saudi Arabian Deputy Minister of Finance Hamad Al-Bazai says China always plays an important role in the landscape of the global economy, with its policies prudently balanced.

China is one of Saudi Arabia's biggest trading partners, and he hopes that the dialogue will inject new vitality into bilateral economic ties.

HAMAD AL-BAZAI SAUDI DEPUTY FINANCE MINISTER "Since both countries have shared goals for development, I agree that we should increase investment to each other. And we put great emphasis on cooperation with China in every aspect."

ZOU YUN BEIJING "Whenever we talk about economic ties between China and Saudi Arabia, what usually dominates the discussion is energy. And now, with the ties between the two countries continuing to enhance, the space for economic cooperation is expected to become more comprehensive and dynamic. ZY, CGTN, BJ."