China Looks To Expand Use Of Yuan In Energy Deals

As part of China’s ongoing drive to bolster its position in the Middle East, Chinese President Xi Jinping has pledged to increase development aid to the region and has ramped up efforts to promote the use of the Chinese yuan in energy markets, Reuters reports.  Speaking at the just concluded China-Arab States Summit and the China-Gulf Cooperation Council (GCC) summit in Riyadh, Saudi Arabia, Xi Jinping said that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out…