Xi Jinping called on Arab countries to pay for oil in yuan
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Chinese President Xi Jinping said that China intends to conclude energy deals in yuan with the countries of the Persian Gulf. He announced this at a meeting with leaders of Arab countries in Riyadh.
According to the Chinese leader, who leads Reuters, China and the Gulf countries should make full use of the Shanghai National Oil and Gas Exchange as a yuan settlement platform.
“China will continue to import large volumes of crude oil from the Gulf Cooperation Council countries, expand liquefied natural gas imports, strengthen cooperation in oil and gas exploration and production, engineering services, storage, transportation and processing, and make full use of the Shanghai oil and national gas exchanges as a platform for settlements in yuan,” Xi Jinping said.
A Chinese delegation in Saudi Arabia could sign dozens of agreements and memorandums with the Gulf and other Arab states on energy, security and investment, diplomatic sources told Reuters on November 30. It was reported that Si will hold meetings with King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman.
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