Country: Saudi Arabia
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Could the Yuan Replace the Dollar in Saudi Arabia’s Oil Sales to China? Probably Not, But it’s Possible, Says S&P
It wasn't that long ago it would be inconceivable to suggest that Saudi Arabia would switch from the U.S. dollar to the Chinese yuan to settle oil transactions with Chinese buyers. While most analysts say that day is still a long way's off, it's not as far ...
In Fuel-Guzzling Saudi Arabia, Chinese Electric Cars Pique Interest
By Haitham El-Tabei For Hamed al-Rafidain, a Saudi human resources worker, an electric vehicle offers welcome savings, especially since his other car is a fuel-guzzling four-wheel drive favored by motorists in the desert kingdom. The ...
New Chinese Trade Data Reveals Growing Importance of Global South Amid Mounting Tensions With U.S., EU
China registered a record $99 billion trade surplus in June, adding to concerns that Beijing is leaning on exports to try and pull itself out of an economic slump. While the flood of low-cost Chinese-made products is good news for consumers, ...
Analysts Reflect on the Impact of the Recent China-Arab Forum and Future of China’s Mideast Role
It's been two weeks since Arab leaders gathered in Beijing for the China-Arab States Cooperation Forum and analysts who closely follow Chinese foreign policy in the Mideast have had a chance to digest the outcomes of this year's gathering. Jonathan Fulton, a ...
Lots of Happy Talk, Not so Much Substance at Recent China-Arab Summit, Says Leading Scholar
The 10th Ministerial Conference of the China-Arab States Cooperation Forum (CASCF) closed late last week with the adoption of the "Beijing Declaration along with a two-year "execution plan" that runs through 2026. While there was a lot of ceremony surrounding the announcement ...
China’s Xi Says Wants to Deepen Energy Cooperation With Arab States
Chinese leader Xi Jinping said Thursday he would seek to deepen energy cooperation with Arab states as he addressed a forum of regional leaders and diplomats in Beijing. China, which has ramped up diplomatic exchanges with Middle Eastern leaders in recent ...
Saudi Finance Minister in Beijing Wraps Hectic Two Days of High Level Talks
Saudi Arabia's Finance Minister Mohammed Al-Jadaan concluded a two-day visit to Beijing on Tuesday that included high-level talks with his counterpart Lan Fo'an and Vice Premier He Lifeng, China's point man on relations with the Kingdom. Al-Jadaan was joined on the trip ...
China’s Special Envoy for the Mideast Briefs Arab Diplomats in Beijing
China's Special Envoy for the Middle East Zhai Jun briefed Arab and Persian Gulf diplomats on Wednesday about Beijing's latest positions in the region. Zhai reportedly addressed the recent talks between representatives from the rival Palestinian groups Fatah and Hamas that ...
China’s Growing Influence in the Persian Gulf
It wasn't that long ago the Persian Gulf was a no-go zone for Chinese diplomacy. Back then, China didn't source much energy from Gulf countries, and its diplomats were ill-equipped to handle the region's contentious politics. That is no longer the ...
Splashy Saudi Mega-Project NEOM Chases Chinese Funds
By Holmes Chan with Robbie Corey-Boulet in Riyadh Bigwigs behind a Saudi megacity dogged by questions about its viability have wrapped up a tour courting Chinese investors, detailing plans for a futuristic ski resort and 170-kilometer-long skyscrapers.
China Imported a Record Amount of Oil Last Year
China broke its all-time record for oil imports last year, averaging 11.3 million barrels a day — 10% more than in 2022, according to new Chinese Customs data. Almost 20% of that volume came from Russia alone, which displaced Saudi Arabia ...
China Tries to Keep Iran, Saudi Arabia Relations in Balance Amid Surging Mideast Tensions
Chinese Foreign Minister Wang Yi worked the phones on Monday in a bid to stabilize ties between Iran and Saudi Arabia, which are now under intense pressure following Tehran's missile attack on Israel over the weekend. Wang held separate calls with