The project requires Beijing's green light, and Hu's visit to the
headquarters of SABIC, which exports two billion dollars worth of petrochemical
products to China annually, was seen as a sign of his interest in the venture.
The Chinese leader was also due to meet Saudi businessmen and confer
separately with billionaire entrepreneur Prince Alwaleed bin Talal before flying
to the oil-rich Eastern Province on Sunday to meet Aramco officials in Dhahran.
China's commerce ministry said the trade volume between the two countries hit
2.7 billion dollars during the first two months of 2006, a 43 percent rise on
the same period last year.
Saudi exports to Beijing were worth 2.21 billion dollars, according to the
Chinese Xinhua news agency.
The kingdom exported some 22.18 million tons of oil to China last year,
becoming its biggest crude supplier.
King Abdullah reached five economic deals, including an energy agreement,
during his January trip to China, which was part of an Asian tour underlining
Riyadh's quest to expand links with Asia.
While Beijing needs energy to feed its growing economy, Riyadh, which has
traditionally had strong Western ties, is seeking to secure more markets for its
oil and broaden its sources of technology imports as it opens up its economy
following accession to the World Trade Organization, analysts say.
Hu's visit comes at a time when oil prices have shot up to record prices of
more than 75 dollars a barrel.
Hu also met Abdulrahman al-Attiyah, secretary general of the six-nation Gulf
Cooperation Council with which China is negotiating a free trade agreement.
"We hope to sign the FTA by year's end," Attiyah said after the talks.
On Sunday, Hu is to give a speech at the Shura Council, becoming only the
second foreign leader to do so after French President Jacques Chirac, who
addressed the appointed advisory body in March.
Hu is due to leave for Morocco on Monday and continue his tour in Africa with
stops in Nigeria and Kenya.