At the Sino-Saudi Investment Conference on December 12^th, Land Group and Saudi King Abdullah Economic City (KAEC) signed cooperation memorandum to establish centers in both KAEC and Suzhou, promote Sino-Saudi in-depth exchange and cooperation in fields such as economy, trade, science and technology, capital, industry and culture. Before the signing ceremony, Fang Wei, deputy governor of Jiangsu province, met his excellency Khalid • Al-Falih from Saudi Ministry of Investment. Participants include Wu Qingwen, deputy secretary of Suzhou Municipal Party Committee and Mayor of Sushou, Zhou Qindi, Secretary of Changshu Municipal Party Committee, Wang Jianguo, member of the Standing Committee of Changshu Municipal Party Committee, and secretary of the Party Working Committee of Changshu High-tech Zone, and Ye Feng, chairman of Suzhou Land Group.

During the meeting, mayor Wu Qingwen briefly introduced the situation of Suzhou social and economic development and expressed that Suzhou will make full endeavor to support the development of Sino-Saudi projects.

After the government meeting, his excellency Khalid • Al-Falih had a private meeting with the team of Land Group including Ye Feng, president Gu Wenwen and others. They had a successful full exchange on matters such as cooperation content and procedure between Land and Saudi Arabia for over an hour.

His excellency Khalid • Al-Falih expressed that current changes in international community and economy are accelerating. The high match of China’s “the Belt and Road Policy” and “Saudi 2030 Vision” provides new energy to Sino-Saudi bilateral economic and trade cooperation. Saudi Ministry of Investment and KAEC pay high attention to the multi-layer cooperation with Land Group centering on industrial fields, and hope to continuously expand cooperation content in the future, actively conduct strategic linkage, promote China’s industrial layout in Saudi Arabia, accelerate industry settlement, give full play to complementary advantages, co-build diversified and sustainable cooperation relationship, and realize mutual benefit and win-win cooperation.

Chairman Ye Feng expressed that the current era features continuous, integrated and innovative development. The in-depth promotion of China’s “the belt and road” advocacy accelerates the going-out pace of China’s enterprises. Currently, Land Group is speeding up the promotion of international layout and will focus on establishing two-way centers in both China and Saudi Arabia to realize two-way interaction and joint development. Ye Feng said that Suzhou as Saudi Center’s location must be a correct choice, on one hand, Suzhou is where Land Group’s headquarter locates and the joint operation and management by both parties will be highly efficient; on the other hand, in China, Suzhou has the best business operation environment, most complete industry categories, strongest manufacturing industry foundation, and more importantly the open, inclusive, pragmatic and highly efficient government support. Land Group is willing to cooperate with Saudi Arabia to center on aspects such as industry, capital, talent, technology and development and construction in special economic zone, give full play to Land’s industrial operation experience and international view, respond to national call and make contribution to Sino-Saudi cooperation.

Conference participants also include relevant department officials from Saudi Ministry of Investment, Saudi Economic Cities and Special Zones Authority, Saudi King Abdullah Economic City, Saudi Public Investment Fund, and Saudi Ministry of Investment China Office; relevant events participant also include Xu Jie, vice president of Land Group, and Wang Haibing, general manager of investment and operation department of Land Group.