Chinese Vice Premier Zhang Gaoli Friday met with Saudi Arabian Minister of Energy, Industry and Mineral Resources Khalid al-Falih in Beijing, agreeing to advance industrial capacity and investment cooperation.

Zhang will visit Saudi Arabia next week and co-chair the second meeting of a high-level steering committee for coordinating bilateral cooperation between China and Saudi Arabia with Crown Prince Mohammed bin Salman.

China-Saudi Arabia relations have entered a fast lane of full development, said Zhang.

China supports Saudi Arabia's efforts to safeguard stability and security and is willing to implement a list of major cooperative projects in industrial capacity and investment under the framework of the Belt and Road Initiative, he said.

China supports Saudi Arabia to diversify its economy, said Zhang.

"I expect to visit Saudi Arabia next week and discuss with Crown Prince Mohammed bin Salman policy coordination and alignment of development strategies between the two sides," he said.

Al-Falih said Saudi Arabia cherishes the traditional friendship with China and is ready to make full use of the high-level steering committee to promote the docking of the Belt and Road Initiative with the "Saudi Vision 2030" growth strategy, so as to bring more benefits to people of the two countries.