Saudi Roundup: Saudi–China Economic Ties Accelerate

This week’s Saudi Roundup highlights growing Saudi–China trade, increased industrial and financial licensing activity, and expanding energy partnerships with global counterparts.

General Business & Economy

Saudi Arabia Seeks Urban Development Partnerships at WUF13 in Baku

International cooperation in housing, smart cities, and urban development is expected to gain momentum as senior Saudi officials attend the World Urban Forum 13 in Baku. The Saudi delegation, headed by Minister of Municipalities and Housing Majed Al-Hogail, is participating in the 13th edition of the UN-supported forum, taking place from May 17 to 22. The event gathers policymakers, investors, and urban development experts from across the globe.

Saudi Industry Minister Discusses Expanding Industrial Partnership With Pakistani Counterparts

Bandar Alkhorayef, Saudi Arabia’s minister of industry and mineral resources, held a virtual meeting with Pakistan’s Minister of Industries and Production Haroon Akhtar Khan and Minister of Climate Change and Environmental Coordination Musadik Masood Malik. The discussions focused on enhancing industrial collaboration between Saudi Arabia and Pakistan, as well as exploring opportunities to deepen investment partnerships across several priority industries, particularly the fertilizer sector.

Saudi Arabia’s RCJY Nears $533bn Investment Target Ahead of 2045 Timeline

Royal Commission for Jubail and Yanbu is aiming to attract investments worth SR2 trillion ($533 billion) within the next five years, significantly ahead of its original 2045 target, according to RCJY President Khalid Al-Salem. Investments linked to the commission have already surpassed SR1.5 trillion ($400 billion). RCJY is currently negotiating investment opportunities valued at around SR500 billion ($133 billion) with investors across multiple sectors.

China's Exports to Saudi Arabia Increased by 19% at the Beginning of 2026

Trade between Saudi Arabia and China reached $17.7 billion during the first two months of 2026, marking a 5 percent increase compared to the same period last year. Chinese exports to the Kingdom totaled $9.8 billion over the period, reflecting an annual rise of nearly 19%. Meanwhile, Chinese direct investment in Saudi Arabia surged 164% to SR31.1 billion ($8.28 billion) by the end of 2024, led primarily by growth in the manufacturing sector. The figures highlight growing confidence among Chinese companies in Saudi Arabia’s business environment and expanding economic ties between the two countries.

Saudi Arabia Issues 188 New Industrial Licenses, 78 Factories Begin Production in March

Saudi Arabia issued 188 new industrial licenses in March, with total investments linked to the permits exceeding SR1.81 billion ($482 million), according to a government body. A report from the National Center for Industrial and Mining Information stated that the new projects—building on 221 licenses granted in February—are expected to generate more than 1,721 jobs across various regions of the Kingdom. The report also noted that 78 factories began production in March, following 112 new operational launches in the previous month.

Finance Licenses Climb to 74 as Payment Providers Hit 32

The number of licensed finance companies in Saudi Arabia has increased to 74 after the country’s central bank approved a new buy-now-pay-later provider, while licensed payment service providers in the Kingdom reached 32. Madark Solutions for Financing received approval to operate buy-now-pay-later services, while Tatbiq Darahem Co. for Technology Almaliya is set to offer account information services connected to open banking, further expanding the Kingdom’s payment services ecosystem.

Energy

Saudi SARCO, China’s Ally Hydrogen Sign Jazan Green Ammonia Deal

Saudi Arabia Refineries Co. has signed a new agreement with China’s Ally Hydrogen Energy to develop a green ammonia facility in Jazan Industrial City, alongside plans to establish a local hub for hydrogen equipment manufacturing and assembly. The non-binding memorandum of understanding also outlines plans to launch a research and development center in collaboration with Saudi universities to support innovation in green hydrogen and ammonia technologies.

Saudi’s Tarshid Signs Solar Agreement With Talco

Tarshid has signed an agreement with Al Taiseer Group Talco Industrial Company to develop a solar photovoltaic system aimed at powering Talco’s facilities in Riyadh with clean energy. Under the agreement, Tarshid will carry out feasibility studies to design a rooftop solar installation across approximately 37,000 square meters covering four facilities, with a planned capacity of 4.5 MW. The system will be integrated into existing energy infrastructure to enhance efficiency and ensure a stable, sustainable power supply.

Ministry of Energy Opens Prequalifications for CNG Distribution Project Competitions

The Ministry of Energy has launched the qualification phase for competitions to establish, own, and operate truck-based compressed natural gas (CNG) distribution projects in the Riyadh Region and the Eastern Province. The initiative aims to strengthen natural gas infrastructure, improve service quality, encourage competition in the sector, and expand the use of technology to enhance access to natural gas services.

Railway

Webuild Completes Work on Key Riyadh Metro Station

Webuild has announced the completion of the Western Station on the Riyadh Metro, marking a major milestone in the Orange Line project, which now includes 22 stations fully delivered by the company. Spanning 112,000 square meters, the facility combines an elevated metro station, bus terminal, underground parking with more than 600 spaces, retail outlets, a mosque, and a large public square, forming a major urban interchange within the network.

SAR Launches Naming Rights Project for Haramain Railway Stations

Saudi Arabia Railways has introduced a new naming rights and sponsorship initiative for stations along the Haramain High-Speed Railway, including stops in Makkah, Madinah, Jeddah, and King Abdullah Economic City. The initiative is also intended to enhance the passenger experience by upgrading station environments and introducing new commercial services while creating strategic marketing opportunities through high-traffic infrastructure sites.

Royal Commission for Riyadh City Announces Launch of Western Metro Station

The Royal Commission for Riyadh City has announced that the Western Station of the Riyadh Metro will begin operations on Friday, completing the system’s four major landmark stations. The opening marks a key milestone in the expansion of Riyadh’s public transport network and supports the city’s broader shift toward a more integrated and sustainable urban mobility system.

The station is designed to handle more than 60,000 train passengers per hour and around 1,300 bus passengers per hour, underscoring its role as a major transportation hub within Riyadh’s public transit system.