Riyadh, December 15, 2022, SPA – Federation of Saudi Chambers has approved the final formation of the Saudi-Chinese Business Council in its new term (1444-1448), naming Mohammed bin Abdulaziz Al-Ajlan as Chairman of the Council, and Ahmed bin Saad Al-kridis and Anas bin Mohammed Al-Fada as Vice-Chairmen. Al-Ajlan said the Saudi-Chinese economic relations receive great attention in the agenda of the Federation of Saudi Chambers, based on its importance, strategic dimension, and the great support provided by the Saudi and Chinese leaderships, as China represents the Kingdom's first trade partner, while the Kingdom is China's largest partner in West Asia and North Africa, adding that the Council will work in its new cycle to attract Chinese investments to the Kingdom and open horizons for trade and investment partnership between the business sectors of the two countries by focusing on the sectors targeted in the Kingdom’s Vision 2030 and the Chinese Belt and Road Initiative. In 2021, the volume of trade exchange between the Kingdom and China reached SR304.3 billion, compared to SR221.6 billion in 2020, an increase of 37%. In the same year, Saudi exports to China increased by 59% and imports by 12%. --SPA 15:56 LOCAL TIME 12:56 GMT 0022 www.spa.gov.sa/2409988