Hubei enhances business ties with Saudi Arabia

On Nov 26 local time, the China (Hubei) Economic and Trade Cooperation Matchmaking event was held in Riyadh, capital of Saudi Arabia.

Officials from the Ministry of Investment of Saudi Arabia, the Saudi-Chinese Business Council, and the Chinese Embassy in Saudi Arabia attended the event.

Xie Qinsheng from the Chinese Embassy in Saudi Arabia said in his speech that China's exchanges with Saudi Arabia at all levels are becoming more frequent and investment cooperation in various fields is booming, highlighting the strong resilience and vitality of China-Saudi Arabia economic and trade cooperation.

Chen Ping, vice governor of Central China's Hubei province, explained the investment and development situation in Hubei to attendees. Leaders of the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) promoted Wuhan New City. Representatives of Chinese companies such as FiberHome and Dongfeng VOYAH delivered speeches.

In his speech, Chen Ping stated that Hubei is imbued with significant geographical advantages, a thriving economy, and a diverse culture, and has actively served and integrated into the development of the Belt and Road Initiative. Economic and trade exchanges between Hubei and Saudi Arabia have reached their best period in history, and products from Hubei such as electronics, biopharmaceuticals, maternity and baby products, health products, cosmetics, and self-developed automotive parts have been popular in Saudi Arabia.

The event was organized by the Hubei Provincial People's Government and the Ministry of Investment of Saudi Arabia, attracting more than 200 participants from political and business circles in China and Saudi Arabia. Agreements for seven key cooperation projects were signed on stage, involving information and communication, high-end equipment, finance, and more.