Ashraf Al-Ghazawi, Executive Vice President of Strategy and Corporate Development at Saudi Aramco, affirmed that the company considers China a pivotal market and a long-term strategic partner, noting the strong confidence in the prospects of the Chinese economy.
China plays a central role in Aramco’s liquids-to-chemicals strategy within the refining, processing, and marketing sector, with most of the company’s foreign investments in this area being made in partnership with Chinese entities. Areas of cooperation include energy, supply chains, technology, and innovation. Since entering the Chinese market in 1991, Aramco has operated two research and development teams and the largest venture capital team in Asia within China, and is expanding its collaboration with China in the field of artificial intelligence.