The Middle East is an important node of China's "Belt and Road" initiative. Since the "Belt and Road" initiative was proposed, Middle Eastern countries have also responded enthusiastically. Over the past decade, they have achieved fruitful results in cooperation with China in infrastructure, trade, tourism, energy and other fields. Data shows that since 2001, Saudi Arabia has been China's largest trading partner in the Middle East. Since 2013, China has become Saudi Arabia's largest trading partner. In 2022, the bilateral trade volume between China and Saudi Arabia reached US$116 billion, a year-on-year increase of 33.1%. Saudi Arabia has become China's first US$100 billion trading partner in the Middle East.
Saudi Arabia's Vision 2030 focuses on the development of manufacturing, and the current characteristics of Saudi Arabia's economic structure determine that it must seek external cooperation. China and Saudi Arabia have strong strategic complementarity in terms of economy. The Belt and Road Initiative and Saudi Arabia's Vision 2030 just meet the development needs of the two countries. The political mutual trust between the two countries is good now, and this trend may be strengthened in the future, which provides good cooperation and development opportunities for Chinese companies to invest overseas. The Vision 2030 has stimulated a great leap forward in infrastructure. After Saudi Arabia launched the Vision 2030 plan, Saudi Arabia became the world's largest construction site, with 4.13 trillion riyals (about 1.1 trillion US dollars) in infrastructure. In addition, the warming political relations between China and Saudi Arabia have also created favorable conditions for the development of Chinese companies in Saudi Arabia. At present, Saudi Arabia is a hot spot for infrastructure investment, and Saudi Arabia is carrying out a large amount of infrastructure construction.From 2022 to 2023, Saudi Arabia has about 62 projects in the construction stage, involving more than US$70 billion. The growth of Saudi Arabia's construction industry is due to the increasing investment in transportation, renewable energy, tourism, industry and housing projects. The key areas include commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction and residential construction. Saudi Arabia has a huge demand for infrastructure.