China's Xi visiting Saudi Arabia for three days amid bid to boost economy

In this file photo, Saudi Arabia's then-deputy Crown Prince Mohammed bin Salman (L) greets Chinese President Xi Jinping (R) during a meeting at the Diaoyutai State Guesthouse in Beijing on August 31, 2016. (Photo courtesy: AFP/File)
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Updated 07 December 2022
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China's Xi visiting Saudi Arabia for three days amid bid to boost economy

  • China's economic growth has been on a decline and was dealt a major blow by rolling lockdowns due to COVID-19
  • Xi will attend the inaugural China-Arab States Summit and a meeting with leaders of the Gulf Cooperation Council

BEIJING: Chinese leader Xi Jinping is attending a pair of regional summits in Saudi Arabia this week amid efforts to kick-start economic growth weighed down by strict anti-COVID-19 measures.

The Foreign Ministry said Wednesday that Xi will attend the inaugural China-Arab States Summit and a meeting with leaders of the six nations that make up the Gulf Cooperation Council in the Saudi capital of Riyadh. His state visit to Saudi Arabia will end on Saturday.

China is the world’s second largest economy and a major source of outward investment. To fuel massive demand, it imports half its oil, of which half of those imports come from Saudi Arabia, amounting to tens of billions of dollars annually.

China's economic growth had been on a steady decline for years and was dealt a major blow by rolling lockdowns imposed across the country as a response to the COVID-19 pandemic.

Chinese economic growth rebounded to 3.9% over a year earlier in the three months ending in September, up from the first half of the year's 2.2%, but still well short of the government target.

China’s COVID-19 infection numbers are lower than those of the United States and other major countries. But the ruling party is sticking to “zero-COVID,” which calls for isolating every case, while other governments are relaxing travel and other controls and trying to live with the virus.

China's ruling Communist Party shares many of the authoritarian tendencies of Saudi Arabia and other Gulf states, shielding Beijing from criticism over its harsh policies toward Uyghurs and other Muslim minorities. More than a million have been sent to detention centers where they report being forced to denounce Islam and swear fealty to Xi and the party.

Beijing denies the charges, saying they have been providing job training and ridding Muslims of extremist, separatist and terroristic tendencies.

The trip to Saudi Arabia marks a further move by Xi to restore his global profile after spending most of the pandemic inside China. Xi was granted a third five-year term in October, but street protests against “zero-COVID” policies last month saw the most significant public challenge to his rule and may have prompted a relaxation of some measures.


Saudi, UN officials discuss trade and AI in Austria

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Saudi, UN officials discuss trade and AI in Austria

  • Talks on ways to boost economic transformation in global system
  • Commerce Minister Majid Al-Qasabi highlights rules-based trade

RIYADH: Saudi Arabia and UN officials held discussions in Vienna, Austria, on Dec. 18 and 19, on international trade rules and artificial intelligence.

Participants at the meeting included representatives of the Kingdom’s National Competitiveness Center and the UN Commission on International Trade Law, or UNCITRAL, the Saudi Press Agency reported.

The workshop was a part of the NCC’s efforts to contribute to the development of legislative and regulatory frameworks for trade, keeping pace with global digital transformations, and enhancing the competitiveness of the national economy.

The Kingdom’s delegation was led by Commerce Minister Majid Al-Qasabi, who is the chairman of the NCC. Also present were Iman bint Habas Al-Mutairi, CEO of the NCC, 39 government officials, and Anna Jobin-Bret, secretary of UNCITRAL.

In his opening speech, Al-Qasabi spoke about the connection between technology and consumer behavior and its impact on the future of global trade.

The workshop included seven specialized sessions, which addressed AI in international trade, focusing on how it can improve the efficiency of supply chains, logistics operations, and e-commerce.

In a session, “Digital Platforms for Cross-Border Trade,” panelists addressed the legal and regulatory frameworks for using digital platforms.

Other sessions reviewed UNCITRAL’s perspective on the UN@80 initiative. Jobin-Bret spoke about the commission’s efforts and role in the world body’s reform process.

The workshop concluded with a session addressing preparations for joining the new Convention on Commercial Registers, emphasizing the importance of UNCITRAL’s efforts to ensure reliable digital trade.