China Affirms Integration of Belt and Road Initiative with Saudi Vision 2030

 A recent report confirms that the integration of the Belt and Road Initiative with the Saudi Vision 2030 marks the beginning of a new era of strategic partnership between the two countries. (AFP)
 A recent report confirms that the integration of the Belt and Road Initiative with the Saudi Vision 2030 marks the beginning of a new era of strategic partnership between the two countries. (AFP)
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China Affirms Integration of Belt and Road Initiative with Saudi Vision 2030

 A recent report confirms that the integration of the Belt and Road Initiative with the Saudi Vision 2030 marks the beginning of a new era of strategic partnership between the two countries. (AFP)
 A recent report confirms that the integration of the Belt and Road Initiative with the Saudi Vision 2030 marks the beginning of a new era of strategic partnership between the two countries. (AFP)

A recent report from Fujian Daily has highlighted the growing partnership between China and Saudi Arabia, emphasizing the alignment of the Belt and Road Initiative (BRI) with Saudi Vision 2030. This collaboration reflects the two nations’ shared commitment to fostering global progress and creating a unified future for humanity.
The report underscored the strengthening ties between the two countries in education and industry. For example, 22 Saudi students have graduated from Xiamen University in Fujian, with many pursuing careers in the chemical industry. Some have returned to Fujian, further enhancing the relationship between the nations.
During President Xi Jinping’s visit to Saudi Arabia in December 2022, a significant agreement was signed between Sinopec and Saudi Aramco to develop the second phase of the Gulei refining and petrochemical integration project. This initiative exemplifies the deepening energy sector cooperation.
In February 2024, construction began on a joint ethylene project with an investment of 44.8 billion yuan ($6.14 billion), marking the first direct partnership between a Chinese regional company and a global firm in petrochemicals. Expected to complete by 2026, the project highlights the strategic importance of industrial collaboration.
The report also spotlighted the historical ties between China and Arab countries through the Silk Road, with Fujian serving as a key hub. Today, initiatives such as the Maritime Silk Road revive this legacy. In May 2024, a multimodal transport channel linking Nanchang, Xiamen, and Saudi Arabia was launched to facilitate exports from the Gulei project to global markets.
Additionally, the second phase of the Gulei complex was launched in November 2024, with a total investment of 71.1 billion yuan ($9.74 billion), making it the largest industrial project in Fujian’s history. The project aims to enhance resource security and boost the petrochemical supply chain.
The report concluded that the ongoing partnership, supported by technological advancements and shared ambitions, underscores a new era of strategic collaboration, with the integration of BRI and Vision 2030 symbolizing a bright future for both nations.

 



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.