Better China-Saudi economic ties expected

China and Saudi Arabia are expected to further tap potential for bilateral economic and financial cooperation, thereby bringing about more tangible and pragmatic collaboration results, according to government officials from both sides.

They made the remarks at the third meeting of the Economic and Financial Subcommittee of the High-level Chinese-Saudi Joint Committee on Monday in Beijing.

China's Finance Minister Lan Fo'an said at the meeting that under the strategic guidance of the two heads of state, economic ties between Saudi Arabia and China have been growing stronger. The two countries should strengthen macroeconomic policy communication and coordination to promote global economic recovery and stability, as well as strengthen multilateral cooperation to enhance the global economic governance system. He also said the Chinese side welcomes the strengthening of exchanges and cooperation between the financial sectors of the two countries.