Chinese President Xi Jinping made a three day visit to Saudi Arabia to reaffirm cooperation on global oil markets and the principle of non-interference in internal affairs.
Xi and Saudi King Salman signed a series of deals, including for Chinese tech giant Huawei to provide cloud computing and high-tech complexes in Saudi cities.
In a joint statement, the two nations stressed the principles of sovereignty and “non-interference,” and Riyadh reaffirmed its adherence to the “one-China principle”.
“China looks forward to working with Saudi Arabia and Arab states to turn the two summits into milestone events in the history of China-Arab relations and China-GCC [Gulf Cooperation Council] relations and bring these relations to new heights.”
– Xi Jinping, President of China
On Friday, Chinese President Xi Jinping met with the six-member Gulf Cooperation Council (GCC) and the China-Arab summit to discuss oil and gas trade.
Xi suggested the use of the yuan for oil and gas trade transactions, which would weaken the US dollar, but most of Saudi Arabia’s assets and reserves are in US dollars.
