The signing ceremony held at the Great Hall of the People in Beijing on March 16. [Photo/CNNC]

Wang Shoujun, chairman of China National Nuclear Corporation (CNNC), and Dr Zohair A Nawab, president of the Saudi Geological Survey (SGS), signed a memorandum of understanding regarding bilateral cooperation on uranium and thorium resources, in the presence of China’s President Xi Jinping and Saudi Arabia’s King Salman bin Abdulaziz Al Saud at the Great Hall of the People in Beijing on March 16.

The signing marks a new success for CNNC in implementing China’s Belt and Road Initiative, utilizing its industrial advantages.

It indicates that CNNC has emerged in the competitive market of Saudi Arabia through its world-leading technologies in mineral exploration and exploitation, and its dominant all-round industrial chain, stepping out the first move in all-inclusive nuclear collaboration with Saudi.

CNNC promises to work on detecting radioactive resources in nine potential areas in Saudi Arabia within the next two years, according to the agreement.

It’s a pragmatic way for the cooperative agreement made by mutual governments and deepens strategic partnerships between the two countries.

It also builds solid ground for both sides to promote the whole-industrial-chain collaboration, and stands out as an example of countries cooperating along the Belt and Road.