Saudi Finance Minister: Relations with China are Strategic and Heading Towards a "Prosperous" Future Amidst Budget 2026 Announcement

Saudi Finance Minister Mohammed Al-Jadaan affirmed today (Tuesday) the "strategic" nature of relations between the Kingdom of Saudi Arabia and China, noting that these relations are heading towards a "prosperous" future. Al-Jadaan's statement was made during the government press conference accompanying the announcement of the State's General Budget for the Fiscal Year 2026.

Al-Jadaan explained that the two countries are the largest trading partners for each other in the region:

• The Kingdom is China's largest trading partner in the Middle East.

• China is also the Kingdom's largest trading partner.

The Minister added that the future is promising, especially since China provides advanced technologies and diverse expertise not only to the Kingdom but to a large number of countries, in addition to being a massive market for Saudi exports. Al-Jadaan confirmed that "the Kingdom's largest exports go to China."

Budget 2026 Announcement:

The statement coincided with the Saudi Council of Ministers approving the Kingdom's draft budget for 2026, which included the following figures:

Item	Value (Saudi Riyal)	Value (Approximate US Dollar)
Expected Total Revenues	SAR 1.147 trillion	$306 billion
Estimated Expenditures	SAR 1.313 trillion	$350 billion
Expected Deficit	SAR 165.4 billion	$44.11 billion