The Paper: We noted that the first RMB cross-border payment transaction between Saudi Arabia and China’s Yiwu city, known as “the world’s supermarket”, was completed ahead of the first China-Arab States Summit. Do you have any comment?
Mao Ning: I also noted this good news. The cross-border RMB payment has played an important role in boosting trade between China and Arab states. This is also a telling snapshot of trade and investment facilitation between both sides.
Over the past decade, China-Arab states economic and trade cooperation has scaled new heights. China is Arab states’ biggest trading partner. In 2021, China’s FDI stock in Arab states hit $23 billion, a 2.6 times increase over 10 years. The trade volume topped $330.3 billion, 1.5 times more than 10 years ago. In the first three quarters of 2022, China-Arab states trade reached $319.295 billion, up 35.28 percent year on year and close to the total of the whole year of 2021.
During his trip to Saudi Arabia, President Xi Jinping expressed China’s hope to level up trade, investment and financial cooperation and expand cooperation in such areas as e-commerce and digital economy with Saudi Arabia. We are confident that this visit will boost sustained, solid progress in China-Saudi Arabia cooperation for mutual benefits of higher quality and at a deeper level.
TASS: The US is set to levy fresh sanctions against China for its alleged human rights abuse and support for alleged illegal fishing in the Pacific, according to officials familiar with the matter cited by the Wall Street Journal. Do you have any comment?
Mao Ning: I am not aware of the specifics you said. I would like to say, as a principle, that China strongly opposes interference in other countries’ internal affairs under the pretext of human rights. The US is in no position to impose unwarranted sanctions on other countries or act as a “world policeman”. China will act resolutely to safeguard its lawful rights and interests.
As for the issue of illegal fishing, let me say that China is a responsible fishing country. We have always worked with other members of the international community to crack down on illegal, unreported and unregulated fishing, and have done a lot in effectively combating illegal fishing. In contrast, the US seiners are operated on the high seas fo