Beijing Agrees US$10 Billion Saudi Oil Deal

President Xi Jinping met Saudi Crown Prince Mohammed bin Salman on Friday and agreed a US$10-billion oil deal, as the prince pressed on with a diplomatic charm offensive in Asia.

Mohammed arrived in Beijing on Thursday following visits to Pakistan and India, showing the world that his country still has allies after the grisly murder of Saudi journalist Jamal Khashoggi at the kingdom's Istanbul consulate.

"China is a good friend and partner to Saudi Arabia," Xi told Mohammed in a meeting in the Great Hall of the People.

"Saudi Arabia's relations with China can be traced back a very long time in the past," the crown prince said. "Over such a long period of exchanges with China, we have never experienced any problems with China."

He met Vice-Premier Han Zheng earlier on Friday.

China is looking to strengthen its economic ties with the kingdom, as Beijing pursues its ambitious Belt and Road trade infrastructure initiative, while Riyadh rolls out "Saudi Vision 2030" – the crown prince's major programme to diversify the national economy away from oil.

Mohammed told Xi they could join the two projects "to realise more progress and jointly confront challenges".

Han suggested during his meeting with the crown prince that the two countries deepen partnerships in energy, infrastructure construction, finance, and high-tech. (AFP)