The five-year plan for joint action for the mechanism of enhancing cooperation and mutual commercial visits between the ministry of commerce and investment of the Kingdom of Saudi Arabia and the ministry of trade of the Peoples' Republic of China was co-signed by acting undersecretary of foreign trade Abdulrahman Al-Harbi on behalf of the Saudi side, and deputy minister of trade Fotsi Ying. A memorandum on the establishment of Saudi Silk Road company for industrial services to encourage investment in the city of Jazan was co-signed by the chairman of the board of SADCO and Vice President of Saudi Aramco Yasser Mufti as well as the CEO of the Royal Commission for Jubal and Yanbu Dr. Alaa Naseef, and on the Chinese side, the chairman of the board of Gwangin for developing international investments company ltd Chang Lin Chang. A memorandum of understanding was co-signed between China Posts and Saudi Posts corporation by Acting President of Saudi Posts Dr. Osama Altaf and China's ambassador to the Kingdom Li Hwa Chin. A memorandum of understanding was co-signed between Petro Rabiah Refinery and Taida company for strategic cooperation on developing and administering industrial areas . It was co-signed on behalf of the Saudi side by vice-President of Petro Rabegh refinery company for industrial relations Bassam Bukhari and the director general of Taida company for industrial parks Guanchoya Bin. The signing ceremony was attended by Dr. Majed Al-Gasbi, minister of commerce and investment; Adel bin Ahmed Al-Jubeir, minister of foreign affairs; Mohammed Al-Jadaan, minister of finance; Ahmed Al-Khateb counselor at the secretariat general of the Cabinet; Yasser Al-Ramyan, counselor at the secretariat general of the Cabinet; Dr. Ahmed Al-Salem, Deputy interior minister; Mohammed Al-Ayesh, Assistant minister of defense; Turki Al-Madhi, Saudi ambassador to China; and a number of officials. The official accompanying delegation of the Chinese senior official was also present at the event. --SPA 23:14 LOCAL TIME 20:14 GMT www.spa.gov.sa/w473356