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China's Xi calls for oil trade in yuan at Gulf summit in Riyadh

President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan. Xi made the speech at the China-Gulf summit in Saudi Arabia’s Riyadh. Riyadh is a top oil supplier to China and the two countries reaffirmed in a joint statement the importance of global market stability and energy collaboration. Most of Saudi Arabia's assets and reserves are in dollars including more than $120 billion of U.S. Treasuries that Riyadh holds, and the Saudi riyal, like other Gulf currencies, is pegged to the dollar. Earlier, Xi said his visit heralded a new era in relations, voicing hope the Arab summits would become "milestone events in the history of China-Arab relations". __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What's up today in Shanghai, the most updated news of the city    • Плейлист   ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them    • Amazing Shanghai and China 淘宝魔都玩转中国   ■ What Chinese people's lives are like during the post COVID-19 period    • COVID-19 新冠疫情   ■ Views of foreign scholars on China and its affairs    • Voices, Let's Listen! 听她他说   ■ Foreign faces in Shanghai, people living in this city sharing their true feelings    • Плейлист   ■ Mini-docs showing why China is the country it is today    • Stories & Documentary 奇闻逸事记录中国   __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!