Riyadh monetary district eyes partnership with Chinese language companies
A chicken’s-eye view of the King Abdullah Monetary District in Saudi Arabia. PROVIDED TO CHINA DAILY
As Saudi Arabia presses forward with its Imaginative and prescient 2030 to diversify its financial construction, a Saudi respectable has expressed optimism about China’s long-term financial possibilities, underlining the possibility of bilateral cooperation and a willingness to completely make stronger Chinese language corporations in increasing their footprint around the Heart East.
Faddy Abdulrahman AlAql, leader undertaking supply officer of the King Abdullah Monetary District, or KAFD, stated that the industry hub in Riyadh has emerged as a core engine riding the dominion’s financial restructuring and enlargement, boasting a whole business and home ecosystem through accumulating top-tier banks, regulatory our bodies, regulation companies, tech giants and multinational enterprises.
He spoke extremely of China’s sound long-term enlargement basics, declaring that China is positioning itself smartly for the following section of worldwide construction.
“When I look at China’s economy, what gets my attention beyond the growth numbers is where that growth is actually coming from. China is moving up the value chain: Advanced manufacturing, tech, services, and real domestic consumption,” he stated. “These areas have a strong overlap with Saudi Arabia’s developmental priorities.”
Calling China the most important spouse for Imaginative and prescient 2030, AlAql stated China’s shift towards complicated production, era and virtual infrastructure aligns completely with Saudi Arabia’s undertaking to construct a multi-engine economic system.
He stressed out that China-Saudi ties have deepened markedly, with engagement pushed through private-sector collaboration. “This synergy is ushering in a new era of cooperation that goes beyond traditional energy trade into high-tech sectors,” he stated, including that the dominion not too long ago hosted over 30 Chinese language companies exploring joint tasks in complicated production, semiconductors and inexperienced era.
In line with the “10-minute city within a city” idea, KAFD contains residential communities, catering and retail facilities, greater than 67,000 sq. meters of inexperienced area, and a Guinness Global File-breaking 15-kilometer climate-controlled skywalk community.
Chinese language corporations have performed an lively function in KAFD’s construction. Huawei has deployed its sensible town applied sciences protecting synthetic intelligence, web of items and 5G underneath a memorandum of figuring out signed in 2025.
“That led to the launch of Saudi Arabia’s first smart WiFi-7 network at KAFD. We are the first district in the kingdom to provide such coverage, and it is a game-changer for the digital services we can deliver.”
What’s extra, Chinese language educate producer CRRC Corp Ltd has helped construct the arena’s first absolutely built-in automatic rail device for a large-scale sensible town. The road hyperlinks six stations throughout 3.6 kilometers, able to sporting 3,500 passengers an hour.
“These landmark collaborations not only improve KAFD’s digital and intelligent development level but also set a benchmark for deeper China-Saudi industrial cooperation,” he stated.
Spanning 1.6 sq. kilometers, the district has over 1 million sq. meters of place of work area, housing and industrial amenities, transportation hyperlinks connecting to King Khalid Global Airport and 3 main traces of the Riyadh Metro.
House to the headquarters of the Public Funding Fund and Saudi Change, KAFD now hosts over 140 enterprises and 20 regional headquarters for firms from around the globe. World heavyweights together with HSBC and Goldman Sachs have arrange workplaces there, along main Chinese language companies akin to Alibaba and SenseTime.
Due to its top location, industry facilities and mature business ecosystem, KAFD has develop into an excellent gateway for Chinese language enterprises to go into and extend into the Heart East marketplace, AlAql stated.
“Having the Saudi Exchange and PIF headquartered here makes a real difference. When Chinese investors explore opportunities in renewable energy, infrastructure, technology or advanced manufacturing, they do not need to travel across the city for meetings. They are right beside the institutions shaping these sectors. That proximity turns policy dialogue into tangible partnerships.”
In the case of coverage incentives, he stated that Saudi Arabia’s Regional Headquarters Program gives considerable advantages, together with 30 years of exemption from company source of revenue tax, streamlined licensing that may be finished inside of days and get right of entry to to executive procurement tenders.
“If Vision 2030 is the engine, KAFD serves as a catalyst to keep it running smoothly. We have gathered all key players in one place,” he added. “KAFD sits squarely at the crossroads of opportunities for Chinese companies seeking to set up or expand their regional presence, and we are fully committed to facilitating that process.”
