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Prince Alwaleed Meets Chinese Prime Minister

May 25, 2016

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) visited Beijing, People’s Republic of China and met HE LI Keqiang, Prime Minister and HE Wang Yi, Minister of Foreign Affairs, People’s Republic of China. The meeting was attended by Mr. Sarmad Zok, Member of KHC’s Board of Directors and Chairman and CEO of Kingdom Hotel Investments (KHI), Ms. Hassna Alturki, Executive Manager for International Relations to HRH the Chairman, Mr. Hani Agha, Head of Travel and External Affairs Department and Mr. Fahad Bin Nafel, Senior Executive Assistant to HRH the Chairman. During the meeting, the two discussed investment and economic issues and the bi-lateral economic relations between their respective countries, in addition ways in which Saudi-Chinese economic relations could be further strengthened. Furthermore, the Prime Minister commended Prince Alwaleed on his efforts in playing a vital role in economic and social development, and referred to HRH’s local, regional and international investments. The two also discussed Prince Alwaleed’s various investments in China. Moreover, Prince Alwaleed had met with HE Xi, Jinping President of the People’s Republic of China during his last visit to the Kingdom of Saudi Arabia. In 2006, Prince Alwaleed had met with the Chinese President Hu Jintao at the time, at the Royal Guest Palace in Riyadh during his official visit to Saudi Arabia. In 2013, KHC and Prince Alwaleed acquired an equal strategic stake in JD.com its combined value at $250 million. KHC has indirect presence in China via Citibank. Moreover, HRH’s investment in the entertainment sector in China include Disneyland Hong Kong, in addition to the Shanghai Disney Resort that is planned to open in June 2016 and in the hotel sector via 8 Four Seasons Hotels, 9 Fairmont Hotels, 3 Raffles Hotels, 9 Swissotel Hotels and a Movenpick Hotel and in the media sector via 21st Century Fox.