In an attempt to boost the yuan's role in global energy markets, Chinese President Xi Jinping told Gulf Arab leaders on Friday (December 9) that China would prefer to buy oil and gas in the Chinese currency.

China attempts to challenge USD’s dominance as Xi Jinping calls for oil trade in yuan

Chinese President Xi Jinping's state visit to Saudi Arabia is yielding significant geopolitical results. While Saudi Crown Prince Mohammed bin Salman acknowledged China as his country's comprehensive strategic partner in the middle-east, Beijing said that it is willing to expand oil trade with Riyadh.

From Saudi, for China — support for 'deradicalisation efforts' in exchange of refined bilateral ties

On Wednesday, Chinese President Xi Jinping began a visit to Saudi Arabia. The visit has been touted by Beijing as the nation's biggest diplomatic initiative in the Arab world, however, as per the US, it serves as an example of Chinese attempts to exert influence.

Xi meets MBS as China-Saudi Arabia sign 34 agreements worth $30 billion