HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh, His Excellency Mr. Li Chengwen, Ambassador Extraordinary and Plenipotentiary of People’s Republic of China to Saudi Arabia. The meeting was also attended by Ms. Hassna Alturki, Executive Manager for International Relations to HRH the Chairman, Mr. Fahad Bin Nafil, Senior Executive Assistant to HRH the Chairman and Mr. Ahmed Altobaishi, Executive Assistant to HRH the Chairman.
The meeting began as the Ambassador thanked the Prince for giving him the opportunity to meet and thanked him for his support and for receiving Chinese delegations during their visits to Saudi Arabia. During the meeting, Prince Alwaleed and Mr. Chengwen discussed investment and economic issues, and the bi-lateral economic relations between their respective countries, and ways in which Saudi-Chinese economic relations could be further strengthened. Furthermore, Mr. Chengwen 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 investments in China which included the banking and hotel sectors.
In 2013, KHC and Prince Alwaleed acquired an equal strategic stake in JD.com its combined value at $250 million. This investment is in line with KHC’s diversified and unique investment strategy following Kingdom Holding and Prince Alwaleed’s combined investment in Twitter.
KHC has indirect presence in China via Citibank. Moreover, HRH’s investment in the entertainment sector in China includes Disneyland Hong Kong and in the hotel sector via Four Seasons Hotels and Fairmont Raffles Hotel.
In 2006, Prince Alwaleed had met with the Chinese President Hu Jintao at the Royal Guest Palace in Riyadh during his official visit to Saudi Arabia.