Saudi Arabia will host the first-ever Chinese-Arab summit early next month, as the oil-rich kingdom shores up ties with Asia
President of the People's Republic of China Xi Jinping attends the opening ceremony of the G20 Leaders' Summit in Bali's southern peninsula Nusa Dua, Indonesia on November 15, 2022.
Li Xuhang, China’s consul-general in Dubai, said the gathering would happen in early December, according to a statement posted on the consulate’s website on Tuesday. The envoy told an Emirati newspaper that the summit would involve face-to-face exchanges between leaders from China and Arab nations, according to a separate Foreign Ministry statement dated November 4.
Reports appeared in March that China and Saudi Arabia were again in talks to settle oil deals in yuan, a topic the two nations have discussed for six years. That change would undercut the dollar, which has long been the default currency for pricing energy contracts around the world.
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