Saudi and Chinese companies signed 42 investment agreements on Tuesday totaling over $1.74 billion, covering advanced industries, smart vehicles, energy solutions, medical devices, equipment, and mineral resources.

The signing ceremony was attended by Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef at the Saudi-Chinese Business Forum held in Beijing. The forum, organized by the Saudi Chambers’ Union, involved around 200 companies and representatives from both the public and private sectors.

Al-Khorayef highlighted that Chinese investment in Saudi Arabia grew by approximately 30% in 2024, surpassing 31 billion riyals ($8.3 billion), expressing optimism about expanding economic cooperation between the two countries in the coming years.