The Chinese President Xi Jinping held a meeting with several prominent global business figures in Beijing. This gathering aimed to enhance investor confidence amid growing concerns over escalating tariffs, which have introduced ambiguity into both domestic economic conditions and international commerce.
On Friday morning, Xi met with delegates from global industrial and commercial companies at the Great Hall of the People, according to the official Xinhua News Agency report, which did not provide further details.
The list includes Rajesh Subramaniam from FedEx, Bill Winters at Standard Chartered, Paul Hudson from Sanofi, Pascal Soriot of AstraZeneca, and Miguel Angel López Borrego with ThyssenKrupp. Presenting for China are Foreign Minister Wang Yi, Commerce Minister Wang Wentao, and Treasury Secretary Lan Fo’an.
Following the meeting, Xi stated in front of journalists that seven business delegates expressed their opinions, which the Chinese government will ‘review and contemplate.’
Everyone here is invited to maintain open channels of communication with us,” Xi stated, commending the attendees for their contributions to China’s development and job creation. “Foreign companies play a crucial role in advancing China’s modernization.
The slowing pace of economic growth and increasing geopolitical strains have diminished the attractiveness of investing in the planet’s second-largest economy. As a result, foreign investments plunged last year to their lowest level in more than 30 years.
Additional challenges might arise next month, when the United States plans to finish assessing China’s adherence to the initial trade agreement made during former U.S. President Donald Trump’s tenure and intends to enforce mutual tariffs worldwide.
China’s Premier Li Qiang stated on Sunday that the nation is ready for “unexpected shocks” as the government aims for a robust economic growth rate of around 5% this year. According to economists, achieving this objective could require Beijing to implement trillions of yuan worth of stimuli should trade tariffs increase significantly.
China’s engagement with prominent business leaders highlights its commitment to conveying that the country remains open for commerce—a stance that stands in contrast to Trump’s more isolationist ‘America First’ approach.
Beijing is likewise attempting to position itself as a champion of private businesses, highlighted by President Xi’s prominent gathering last month with business figures such as Jack Ma, the co-founder of Alibaba Group Holding.
Numerous top CEOs worldwide journeyed to China for both the yearly China Development Forum and the Boao Forum for Asia, concluding their participation on Friday. This gathering signifies an enhancement compared to previous years where China’s second-highest-ranking official would typically interact with corporate leaders at informal sessions during the CDF. Although last year saw President Xi deviate from this norm by personally engaging a delegation of American businessmen.
Republican Senator Steve Daines, who serves on the Foreign Relations Committee, held meetings with various Chinese officials this week, including Premier Li. This encounter is viewed as a preliminary move toward arranging a summit between Xi and Trump.
A number of American companies have found themselves entangled in the worsening relationship between their country and China. This month, Walmart officials were called for questioning after being accused of asking suppliers to cover higher expenses due to increased US tariffs. Previously, Beijing had added both PVH Corporation, which owns Calvin Klein, and genetic-sequencing firm Illumina Inc., to what’s known as a blacklist following the implementation of new US duties.
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