China commends Saudi Arabia's role in stabilizing the oil markets, and Riyadh supports the "one-China" policy
Crown Prince Mohammed bin Salman of Saudi Arabia has acknowledged his support for Beijing's "one-China" policy. Xi Jinping emphasized the importance of the monarchy in maintaining the stability of the world oil markets. Since its most recent meeting on December 4th, the OPEC+ coalition has kept oil production stable. On the day of the Saudi-China summit, Saudi Aramco and Shandong Energy of China inked a memorandum of understanding (MoU). The two nations will increase their cooperation in nuclear power, renewable energy, project development, and technology while looking into investment opportunities in the petrochemical industry.