Technical edge offers key to innovative solutions

How can China achieve more sufficient and sustainable economic development?

Last November, President Xi Jinping made a commitment to lower China's import tariffs, institute stronger protection for intellectual property, and move toward a consumer-led economy - commitments that we in the business community highly applaud and believe are definitely the right path for China to achieve more sufficient and sustainable economic development.

The Chinese market has been a key pillar of our business over the past 30 years, and China also is a key driver and central to our SABIC 2025 strategy. We are optimistic in the direction the Chinese government is driving its economy. SABIC is in a strong position to create innovative material solutions tailored for the Chinese market across the entire value chain. We look forward to an increasingly transparent business environment and appreciate the government's willingness to open up further.

Assisting in the quest of moving China toward a new era by enabling innovation within the country through strategic partnerships and shared ambitions that drive sustained economic development, SABIC is actively enabling the Belt and Road Initiative as well as Saudi Vision 2030, contributing to an increasingly close-knit global community.

How do you see China's role in promoting globalization and multilateral trade? What's your view of trade protectionism?

As the world stands at the crossroads of immense change, global economic landscapes are changing rapidly and the old ways are no longer sufficient to meet today's needs. This underscores the critical fact that cross-regional cooperation is more essential than ever before in generating and maintaining sustainable and inclusive growth.

To embrace the more connected world on the horizon, we are committed to leveraging SABIC's considerable global resources and expertise to seize opportunities, jointly meet challenges and chart the right course for globalization for China and our international partners.

Despite the challenges presented by free trade, we cannot escape inclusive globalization. The world economy is like a giant ocean that lies all around us. To survive and thrive in the global economy, we must all have the courage to swim in that ocean - and find the appropriate means to overcome these challenges.

The benefits of a global economy far outweigh the costs. Here in China we have the Belt and Road Initiative and back at home in Saudi Arabia we have Saudi Vision 2030, we have seen the increasing synergy in our close-knit global community.