SHANGHAI: Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress.
Xi made the comments at a meeting on Friday with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Beijing, after a week of senior- and deputy-level talks.
The People’s Daily, the official paper of the ruling Communist Party, said in a commentary that Xi’s meeting with US negotiators had affirmed progress made in previous talks and “injected new impetus into the next stage of the development of Sino-US trade relations.”
The talks “have made important progress” for the next round of negotiations in Washington next week, the paper said in its domestic edition.
“It is hoped that the two sides will maintain the good momentum of the current consultations and strive to reach an agreement within the set time limit,” it said.
US duties on $200 billion in imports from China are set to rise to 25 percent from 10 percent if there is no deal by March 1 to address US demands that China curb forced technology transfers and better enforce intellectual property rights.
In its overseas edition, the People’s Daily said “zero-sum thinking and games where you lose and I win can only create losses for both. Only on a basis of mutual respect and equal treatment, through dialogue and consultation, can we find a solution acceptable to both sides.”
An English-language editorial in the Global Times, which is published by the People’s Daily, said news that China had consulted on the text of a memorandum of understanding “shows the two sides have made unprecedented progress.”
“The MOU and next week’s talks both show that the seemingly endless China-US trade negotiations, like a marathon, are making a final sprint,” it said.
The newspapers cautioned that any agreement would have to be in the interests of both the United States and China.
“There are still obstacles to be overcome, and no one should underestimate how daunting a task the two sides face trying to resolve all the differences that have long existed between them in one clean sweep,” the official English-language China Daily said in an editorial.
China-US trade talks ‘making a final sprint’ — state media
China-US trade talks ‘making a final sprint’ — state media
- US duties on $200 billion in imports from China are set to rise to 25 percent from 10 percent if there is no deal by March 1 to address US demands
Saudi Arabia opens real estate market to foreign buyers
RIYADH: Saudi Arabia’s Real Estate General Authority has announced that the regulatory system governing property ownership by foreigners officially came into effect on Jan. 22, with all provisions now enforceable under the national real estate framework.
The authority said applications for property ownership by non-Saudis can be submitted through the official digital platform, Saudi Arabia Real Estate. The system applies to residents and non-residents, as well as foreign companies and entities, in accordance with established legal procedures.
According to the authority, the application process varies by ownership category. Foreign residents in Saudi Arabia may apply directly through the portal using their residence permit, with legal requirements verified automatically and the process completed electronically.
Non-residents are required to initiate their applications through Saudi embassies and consulates abroad to obtain a digital identification number, which enables them to finalize the process via the platform.
Foreign companies and entities without a presence in the Kingdom must first register with the Ministry of Investment through the “Invest Saudi” platform and obtain a unified registration number (700) before completing ownership procedures electronically.
The authority confirmed that the system allows foreign individuals, companies, and entities to own property across Saudi Arabia, with ownership permitted in major cities including Riyadh and Jeddah.
However, property ownership in Makkah and Madinah remains restricted to Saudi companies and Muslim individuals, in line with a regulatory framework based on the Geographic Zones document, which is scheduled to be announced in the first quarter of 2026.
The authority noted that the Saudi Arabia Real Estate portal serves as the official digital gateway for all ownership procedures, ensuring regulatory compliance and direct integration with the national real estate registry to enhance transparency and protect property rights.
It added that the new system is expected to improve the quality of real estate projects by attracting international developers and specialized firms, stimulating growth in the residential, commercial, industrial, and tourism sectors, and creating employment opportunities for Saudi citizens.
The initiative is also expected to strengthen the real estate sector’s sustainable contribution to the Kingdom’s non-oil gross domestic product.
