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Xi Jinping to attend Jeddah oil meeting
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A Chinese Foreign Ministry spokesperson announced in Beijing on Thursday that Vice President Xi Jinping will attend a meeting of major oil producers and consumers in Jeddah of Saudi Arabia on June 22.

"We hope the participating parties could strengthen dialogue and coordination to address the challenge to the world economy posed by the high oil prices," spokesperson Jiang Yu told a regular press conference.

Saudi Arabia sponsored a meeting of oil producing countries and consumers last week to discuss ways of dealing with soaring energy prices and preventing further increases.

Jiang stressed that China is not only a major oil consumer, but also a big producer and is able to maintain a self-supply rate of over 90 percent.

China always supports the active, reciprocal and equal international cooperation on energy, Jiang said, noting that the country also encourages the establishment of a new concept on energy security focusing on mutual benefit, diversified development and coordinative guarantee.

(Xinhua News Agency June 20, 2008)

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