China is open to work with Arab states to build a strategic energy partnership featuring mutual benefits and long-term friendship, and also explore the possibility of a renminbi settlement for oil and gas trade, a senior Chinese official said on Thursday during the sixth China-Arab States Expo.
Zheng Jianbang, vice-chairman of the Standing Committee of the 14th National People’s Congress China said the country will join hands with Arab states to develop a new framework for multi-dimensional energy cooperation, at the event’s opening ceremony in Yinchuan, Ningxia Hui autonomous region.
China will further promote the “oil and gas plus” cooperation model, expand oil and gas cooperation regarding upstream field development, engineering services, storage, transportation and refining, and advance clean, low-carbon and green cooperation with Arab states, as part of the efforts to maintain the security and stability of the global energy supply chain, Zheng said.
China is also willing to further deepen cooperation with Arab nations in production capacities, in areas such as automobile manufacturing, high-end equipment manufacturing, and new materials to aid the diversification of the economy in Arab countries, Zheng said.
China will also proactively collaborate with Arab states in high-tech sectors like 5G, artificial intelligence, big data, cloud computing, aerospace and aviation, Zheng added.
