On October 25, Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia (BFA), visited the Embassy of People’s Republic of China in the Kingdom of Saudi Arabia during his visit to the country and held a symposium with representatives of Chinese enterprises in Saudi Arabia. Chen Weiqing, Chinese Ambassador to Saudi Arabia, moderated the symposium. Li Baodong, Secretary-General of BFA, delivered a welcome speech. Representatives of more than 10 Chinese enterprises including ICBC, Sinopec, CRCC, Huawei, CCECC, PowerChina and CHEC attended and spoke at the symposium.

Vice Chairman Zhou Xiaochuan said that BFA is an international organization headquartered in China, based in Asia and with a global outlook. The Forum operates around one running theme of economic development, while adapting itself to the emerging economic landscape and actively expanding into fields such as technological innovation, health, education, culture and media. Its mission is to pool positive energy for the development of Asia and the world. Through this visit, it hopes to enhance communication and cooperation with Saudi Arabia, the presidency of the G20 summit next year, and build consensus for the upcoming G20 summit. BFA also seeks to, through its channels and platform, elevate China-Saudi Arabia business engagement to a new level and boost the synergy of China’s Belt and Road Initiative with the Saudi Vision 2030.

Representatives of Chinese enterprises said Saudi Arabia is one of the largest and most dynamic markets in the world, and companies remain optimistic on the Saudi market and China-Saudi Arabia economic cooperation. Chinese companies hope to enhance cooperation with local enterprises, innovate project models, mitigate risks reasonably, to develop faster, better and stronger in Saudi Arabia with the support of BFA. Upon request, Vice Chairman Zhou have also given suggestions to companies on how to address challenges abroad, encouraging them to develop local strategies based on local needs and continue to contribute to China-Saudi Arabia economic cooperation.