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China's Xi tells Gulf nations to use Shanghai exchange for yuan energy deals

12/09/2022 | 08:30am EST
Chinese President Xi signs a document during meeting with Saudi king in Riyadh

BEIJING (Reuters) - China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.

China and states of the Gulf Cooperation Council (GCC) are natural partners for cooperation, Xi said in a speech at the China-GCC summit.

In his speech, Xi proposed various areas for cooperation in the next three to five years, including energy, finance and investment, innovation and new technologies, as well as aerospace, and language and cultures.

(Reporting by Ryan Woo; Editing by Toby Chopra)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL 0.09% 82.11 Delayed Quote.-0.55%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.20% 6.7465 Delayed Quote.-2.94%
WTI 0.05% 75.982 Delayed Quote.-1.72%
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