– Crown Prince: The Kingdom, under the leadership of the Custodian of the Two Holy Mosques, attaches special importance to strengthening cooperation with China
– Investment Development Agreement between the Kingdom’s Investment Authority and China’s Investment Development Agency

Building on the distinguished historical relations between the two friendly countries, the Kingdom of Saudi Arabia and the People’s Republic of China signed (4) agreements in several areas of mutual interest, most notably an agreement on consumer protection against substandard and counterfeit goods and an investment promotion agreement between the two countries, during the recent visit by His Royal Highness Prince Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, and Minister of Defense, during which he met with His Excellency Xi Jinping, President of China, and a number of senior state officials.

The Saudi and Chinese sides held a joint meeting, with His Royal Highness the Crown Prince leading the Saudi delegation and the Vice President of China leading the Chinese delegation.
During the meeting, the Vice President of the People’s Republic of China welcomed His Royal Highness the Crown Prince, emphasizing His Royal Highness’s commitment to supporting friendly relations between the two countries and his significant contributions to strengthening cooperation between the Kingdom and China.
The Vice President of China affirmed that the Kingdom holds a prominent position and is China’s most important strategic partner in the Middle East and the Arabian Gulf, noting that China attaches great importance to His Royal Highness the Crown Prince’s visit and its desire to develop relations with the Kingdom.
Remarks by the Crown Prince
His Royal Highness Prince Salman bin Abdulaziz then delivered the following remarks:
His Excellency Mr. Li Yuanchao, Vice President of the People’s Republic of China; Your Excellencies and Distinguished Guests /
I would like to begin by expressing my gratitude to your country for your kind invitation to visit your friendly nation, a land of ancient civilization and history.
I also thank you for the friendly sentiments you have expressed toward the Kingdom of Saudi Arabia.
(This visit of mine follows on from the visit of His Majesty the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, eight years ago, which ushered in a new era in relations between our two countries.
The Kingdom of Saudi Arabia, under the leadership of the Custodian of the Two Holy Mosques, attaches special importance to developing relations and strengthening cooperation with the People’s Republic of China in various fields, and we were pleased to note the same interest expressed by His Excellency President Xi Jinping during our meeting with him.
I would like to express our satisfaction with the consensus we reached with His Excellency on the issues and topics discussed, including the agreement to expand the scope of bilateral cooperation, particularly in the political, security, economic, commercial, industrial, scientific, and technological fields as well as in the fields of energy and culture, and to work toward strengthening ties between the private sectors of both countries and establishing joint projects and investments in a manner that serves the mutual interests of our two friendly peoples.
The fruitful cooperation between our two countries is no longer limited to specific areas; we are witnessing the transformation of this relationship into a strategic partnership with broad dimensions, for the benefit of our two friendly peoples.
We appreciate His Excellency the President’s reaffirmation of China’s historic positions in support of the rights of the Palestinian people, as well as his expressed support for the need to reach an urgent peaceful solution in Syria through the full implementation of the Geneva Communiqué issued on June 30, 2012, including the establishment of a transitional governing body with full executive powers, and we hope that the international community will unite to pressure the Syrian regime to stop the bloodshed of the beloved Syrian people.
4 Joint Agreements
Following that, His Royal Highness the Crown Prince and the Vice President of the People’s Republic of China witnessed the signing ceremony of several agreements between the Kingdom and China in a number of areas of mutual interest to both countries.
The first agreement covered a cooperation program between the Kingdom’s Ministry of Commerce and Industry and China’s General Administration of Quality Supervision, Inspection, and Quarantine.
The second agreement was a memorandum of understanding between King Abdulaziz City for Science and Technology in the Kingdom and the China National Space Administration for cooperation in space science and technology.
The third agreement was a memorandum of understanding regarding the Saudi Fund for Development’s contribution to the project to construct the new campus of Liulian University in Shaanxi Province, China.
The fourth agreement concerned cooperation in investment development between the General Authority for Investment in the Kingdom and the Investment Promotion Agency under China’s Ministry of Commerce.
Agreement on Combating Counterfeit Goods
The agreement aims to protect Saudi consumers by limiting the flow of counterfeit and adulterated consumer goods into the Kingdom’s markets through several measures, the most important of which are:
– Compiling a blacklist of merchants and manufacturers in both countries involved in counterfeiting and adulterating products.
– Establishing a blacklist of laboratories and entities that have been granted certificates of conformity in violation of local regulations and are involved in the distribution of counterfeit or adulterated goods.
– Punishing importers involved in fraud and counterfeiting in the country of import and notifying the other party to punish the exporter and manufacturer.
For his part, Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, said that the agreement signed between the Kingdom and China took a long time to reach this stage in its current form and that, during the negotiations between the two sides, a number of international experiences in this regard were reviewed. Al-Rabiah noted that the agreement aims to curb the flow of counterfeit and adulterated consumer goods into Saudi markets by implementing several measures, including the creation of a blacklist of traders and manufacturers involved in product counterfeiting and fraud in both countries.
Chairman of the Council of Saudi Chambers
Engineer Abdullah bin Saeed Al-Mabti, Chairman of the Council of Saudi Chambers, also emphasized that the agreement signed by the Saudi Ministry of Commerce and Industry with the Chinese Regulatory Authority is considered one of the most important agreements and achievements of the Ministry of Commerce, given the significant volume of trade between the Kingdom and China, which amounts to 72 billion dollars, which demonstrates the excellence of relations between the two countries.