China supports Saudi Arabia in economic and social change: Xi

(Reuters) – Stability in Saudi Arabia is the cornerstone for prosperity and progress within the Gulf, and China firmly helps Riyadh in its drive for financial diversification and social reform, President Xi Jinping informed Saudi Crown Prince Mohammed bin Salman.

Assembly in Buenos Aires, host of the G20 summit of industrialized nations on Friday, Xi mentioned China has at all times connected nice significance to its relations with Saudi Arabia, China’s official Xinhua information company reported.

“China firmly helps Saudi Arabia in its drive for financial diversification and social reform, and can proceed to stay along with Saudi Arabia on points involving their core pursuits,” Xinhua cited Xi as saying.

The Saudi Press Company posted photos on Twitter of the prince speaking to Xi, however gave no particulars of their dialogue.

China and Saudi Arabia have shut power ties.

Saudi Arabia is ready to increase its market share in China this 12 months for the primary time since 2012, with demand stirred up by new Chinese language refiners pushing the dominion again into competition with Russia as high provider to the world’s largest oil purchaser.

Saudi Arabia, the largest international oil exporter, has been surpassed by Russia as high crude provider to China the previous two years as non-public “teapot” refiners and a brand new pipeline drove up demand for Russian oil.

China additionally has good relations with Saudi’s regional rival, Iran, and has lengthy needed to steadiness its ties between Riyadh and Tehran.

(Reporting By Ben Blanchard in Beijing and Ali Abdelaty; Enhancing by Gareth Jones and Grant McCool)

This story has not been edited by Firstpost workers and is generated by auto-feed.

Source link

Facebook Comments