Chinese President Xi Jinping said in his keynote to the first China-Gulf Cooperation Council (CGG) Summit in Riyadh on Dec. 9: “China will continue to import large quantities of crude oil on a long-term basis from GCC countries, and purchase more LNG. We will strengthen our cooperation in the upstream sector, engineering services, as well as storage, transportation and refinery of oil and gas. The Shanghai Petroleum and Natural Gas Exchange platform will be fully utilized for RMB settlement in oil and gas trade.” (https://www.fmprc.gov.cn/mfa_eng/zxxx_662805/202212/t20221210_10988473.html )
His remark about payment in renminbi caught the eye of Reuters which reported it, and which was picked up by other media.
