Riyadh, December 09, 2022, SPA -- His Excellency President Xi Jinping of the People's Republic of China expressed his sincere thanks to the Kingdom of Saudi Arabia for its efforts to host the first summit between China and the Gulf Cooperation Council (GCC), expressing his happiness over the meeting and discussing ways to develop the Chinese-Gulf relations. During his speech delivered today at Riyadh GCC-China Summit for Cooperation and Development, the President reviewed the beginnings of the Chinese-Gulf relations, during which the two sides wrote impressive chapters of solidarity, support, cooperation and mutual gain, indicating that China and the GCC countries always exchange support for sovereignty and independence and respect each other's development paths, uphold the equality of all countries whether big or small and firmly advocate multilateralism. He pointed to the high integration between the two sides, pointing out that China enjoys a wide consumer market and an integrated industrial system, and that the GCC is characterized by rich energy resources and the thriving development of diversifying the economy. The President said that the two sides are partners, have similar cultural values, and exchange cooperation in the spirit of one team in the face of changes in international and regional situations and their challenges resulting from the financial crisis, Coronavirus and major natural disasters. The President of the People's Republic of China said: "The Chinese side highly commends the efforts exerted by the GCC countries to make the council the most vital regional organization in the Middle East and the GCC, by sticking to self-strengthening through solidarity in the face of global transformations and achieving economic growth, despite the repercussions resulting from the pandemic and working to push finding political solutions to hot and thorny issues in the region. He called for consolidating mutual trust and firm support for the vital interests between China and the GCC countries, working together to maintain the principle of non-interference in internal affairs, and exerting joint efforts to implement true multilateralism in a manner that preserves the common interests of developing countries. He said, "In order to be partners in the pursuit of development, we must strengthen the harmonization between our development strategies, activate the advantages of integration and generate an impetus for development," expressing the aspiration to join efforts with all parties in implementing the global development initiative and implementing the UN 2030 Agenda for Sustainable Development, thus contributing to achieving development and prosperity of the region. The President added, "To be partners to improve security, China will continue its unwavering support for the GCC countries in maintaining their security and support the countries of the region to resolve differences through dialogue, consultation and building a collective security system in the Gulf. China welcomes the GCC countries to participate in the global security initiative in order to maintain peace and stability in order to maintain peace and stability in the region with joint efforts, and to be partners for the advancement of civilization, and then we must strengthen the rapprochement among our peoples, diversify human and cultural communication, benefit from the distinguished cultural fruits on both sides, and strengthen the jewel of eastern civilization, which provides a positive contribution to the development and progress of human civilization. His Excellency President Xi Jinping said that during the next three to five years, China is keen on concerted efforts with the GCC's member states to cooperate in priority areas, as follows: First: Building a new formula for comprehensive cooperation in the field of energy, whereby China will continue to import crude oil in a stable manner and in a large amount from the GCC states and increase the import of liquefied natural gas from them, and enhance cooperation in the fields of engineering services, storage and refining of oil and gas, in addition to making full use of Shanghai Stock Exchange for oil and natural gas as a platform for oil and gas trade settlement in the Chinese currency. China will also enhance cooperation in the field of clean and low-carbon energy technologies such as hydrogen energy, energy storage and smart electric grids, and enhance cooperation in consolidating the production of equipment related to new energy, and the establishment of the Chinese-GCC Forum for Peaceful Uses of Energy Nuclear Power, and to participate in the establishment of the Chinese-GCC Excellence Center for Nuclear Security and Specialized Training in the peaceful uses of nuclear energy and nuclear technology for the GCC states. Second: Pushing for new progress in cooperation in the fields of finance and investment, as China is keen to conduct cooperation with the GCC's member states in the field of financial supervision, in a way that facilitates the entry of GCC companies into the Chinese capital market, and the establishment of a joint investment council with the GCC side and support for cooperation between sovereignty funds on both sides in different ways, in addition to discussing the establishment of a Chinese-GCC Forum for industrial and investment cooperation, enhancing investment cooperation in the fields of digital economy, green development and other fields, establishing working mechanisms for investment and economic cooperation at the bilateral level, purchasing and conducting cooperation in exchanging local currencies and activating the role of clearing banks of Chinese currency and Cross-border Interbank Payment System (CIPS), as well as deepening cooperation in digital currencies, and advancing the central banks' multi-digital currency bridge project. Third: Expanding technological innovation cooperation to new areas, as China is keen to cooperate with the GCC states in establishing hubs for big data and cloud computing, enhancing cooperation in fifth generation technology, sixth generation communications, designing a batch of incubators for innovation and entrepreneurship, and carrying out projects for the economy in areas of cooperation on cross-border e-commerce, building other communication networks, developing a Chinese-GCC cooperation mechanism in the field of meteorological technology, and holding a Chinese seminar to confront climate change. Fourth: Achieving new innovations for cooperation in the field of space, as China is keen to launch a series of cooperation projects with the Gulf Cooperation Council countries in remote sensing satellites, space communications, applications, space infrastructure, and cooperation in selecting the training of astronauts, welcoming the astronauts from the Gulf Cooperation Council to enter the Chinese space station to work jointly with Chinese astronauts and conduct space scientific experiments, and welcoming the Gulf side to participate in cooperation on space transportation within the framework of Chinese space missions, and discussing the establishment of a Chinese-Gulf center for joint exploration of the moon and deep space. Fifth: In linguistic and cultural cooperation, China will carry out cooperation in teaching the Chinese language with universities and schools in the GCC countries, and will establish, in cooperation with the GCC countries, smart schools for teaching the Chinese language. China will also provide 3000 scholarships to participate in the summer or winter camp within the framework of a Chinese language bridge, will establish Chinese language test centers and online Chinese language classes, host the Chinese-Gulf Forum for Languages and Cultures, and participate in the establishment of the China- Arab Gulf Countries Library for cultural communication and mutual learning in the Chinese and Arabic languages. His Excellency concluded by saying: "Both China and the GCC countries bear a message for the nation's development and renaissance, as the Chinese-GCC relations are characterized by a long history and a promising future. Let us work hand in hand to follow up the past march, move hand in hand forward, and work together to create a beautiful future in Chinese-Gulf Relations. --SPA 18:29 LOCAL TIME 15:29 GMT 0043 www.spa.gov.sa/w1824507