China Wants More Investment from French Firms, Xi Tells Macron

China's President Xi Jinping (L) arrives for the APEC Economic Leaders' Retreat, during the annual Asia-Pacific Economic Cooperation conference at the Moscone West Convention Center in San Francisco, California, USA, 17 November 2023. (EPA)
China's President Xi Jinping (L) arrives for the APEC Economic Leaders' Retreat, during the annual Asia-Pacific Economic Cooperation conference at the Moscone West Convention Center in San Francisco, California, USA, 17 November 2023. (EPA)
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China Wants More Investment from French Firms, Xi Tells Macron

China's President Xi Jinping (L) arrives for the APEC Economic Leaders' Retreat, during the annual Asia-Pacific Economic Cooperation conference at the Moscone West Convention Center in San Francisco, California, USA, 17 November 2023. (EPA)
China's President Xi Jinping (L) arrives for the APEC Economic Leaders' Retreat, during the annual Asia-Pacific Economic Cooperation conference at the Moscone West Convention Center in San Francisco, California, USA, 17 November 2023. (EPA)

China wants more French companies to invest in the country and hopes France will provide a fair business environment for Chinese firms, President Xi Jinping said on Monday, while France also called for fair rules for foreign companies in China.

Xi made the comments in a phone call with French President Emmanuel Macron, Chinese state television reported, seeking to strengthen ties with its European trading partner after Macron visited China in April.

China faces an electric vehicle subsidy investigation by the European Union and a looming probe into its steelmakers. Meanwhile, several European countries have complained about China's opaque laws and rules regarding foreign companies in the country.

"China is willing to maintain high-level exchanges with the French side," Xi said, adding that he welcomed more French products entering the Chinese market.

Macron's office said the opening of the Chinese market should go hand-in-hand with fair competition rules for foreign companies.

Asked whether France had made progress to counter Chinese plans to force French cosmetics companies to share manufacturing secrets with Chinese parties, a French presidential adviser said it was a major issue that Macron had raised himself.

"It's an important point for us, considering what's at stake for French companies," the adviser said.

Macron's office also said China had joined a French initiative called "Buildings Breakthrough" that sets a zero carbon emissions goal for the building sector for 2030.

Xi also said China was willing to strengthen cooperation with France at the United Nations and other multilateral institutions. China took over the presidency of the UN Security Council (UNSC) this month.

The leader of the world's second-largest economy also called on France to play a constructive role in promoting the positive development of China-EU relations, as ties have been strained over issues ranging from the EU's push to reduce supply chain reliance on China to the war in Ukraine.

"China and the European Union should remain partners for mutually beneficial cooperation," Xi said in the call.

The two leaders also exchanged views on the conflict in Gaza, and agreed that it was imperative to avoid a further deterioration of the situation, in particular an even more serious humanitarian crisis, state television reported.

The French presidential adviser said China, as a member of the UN Security Council, should contribute more to UNRWA, the UN Palestinian refugee agency than the $1 million it currently gives every year.

"We encourage the Chinese authorities to do much more," the adviser said.



Asharq Al-Awsat Tours Riyadh Metro on First Day of its Launch

Riyadh residents ride the Riyadh Metro on its launch day on Sunday. (Turky al-Agili)
Riyadh residents ride the Riyadh Metro on its launch day on Sunday. (Turky al-Agili)
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Asharq Al-Awsat Tours Riyadh Metro on First Day of its Launch

Riyadh residents ride the Riyadh Metro on its launch day on Sunday. (Turky al-Agili)
Riyadh residents ride the Riyadh Metro on its launch day on Sunday. (Turky al-Agili)

“Big achievements take time,” remarked university student Ahmed Al-Omari quoting a Saudi proverb as the Riyadh Metro officially began operations, opening three lines to passengers on Sunday morning. This long-anticipated mega-project is a significant milestone in advancing infrastructure to meet the needs of Riyadh’s rapidly growing population.

The proverb underscores that delays often reflect the scale and ambition of a project rather than inefficiency. After 11 years and a $22 billion investment, the Riyadh Metro, one of the largest transit systems in the Middle East, is now a reality, featuring six main lines spanning the city.

The metro boasts six lines extending 176 kilometers, making it the world’s longest driverless metro system. With 85 stations, including four major hubs, it has a daily capacity to serve 3.6 million passengers.

“I was worried about parking, but it turned out to be convenient and located right at the station,” said commuter Khuloud Al-Amri. The metro system provides 21 public parking facilities, each accommodating between 200 and 600 vehicles, to facilitate access. Additionally, 19 other parking sites with similar capacities are available across the network, along with seven maintenance and overnight facilities at its edges.

The Riyadh Metro offers the lowest transportation cost among G20 nations relative to daily income, according to Maher Shira, Director General of Smart Cities at the Royal Commission for Riyadh. Fares amount to just 0.5% of the average daily income of SAR 733 (approximately $195), compared to 0.9% in Türkiye and 1–3% in other G20 countries.

“My commute typically takes 30 to 45 minutes. I hope the metro will reduce this time,” said Hatem Al-Fawaz, one of the metro’s first passengers on launch day.

Environmentally, the metro aligns with Riyadh’s green initiatives. Existing city buses already use low-sulfur fuel, making them among the world’s most eco-friendly.

The metro further contributes by reducing carbon emissions and improving air quality, according to the Royal Commission. It also helps mitigate greenhouse gas emissions and urban heat through sustainable transport options.

The Riyadh Metro is expected to alleviate traffic congestion by 30%, marking a transformative step toward sustainable urban mobility and a better quality of life for residents.