Chinese President Xi Jinping has urged top multinational executives to uphold global order and work closely with China as the country faces heightened trade tensions with the U.S. Speaking at a roundtable in Beijing on Friday, Xi reiterated that China remains a safe and stable investment destination.
Is It Safe to Invest in China?
Xi stressed that making an investment in China is the same as “investing in tomorrow.” His remarks coincide with the nation’s efforts to retain close relations with multinational corporations in spite of continuing trade disputes. Among the notable attendees were:
- Bridgewater Associates’ Ray Dalio
- The CEO of Standard Chartered, Bill Winters
- The CEO of Blackstone Group, Steve Schwarzman
Trade disputes with the United States.
Citing worries about fentanyl trafficking, President Donald Trump decided to put a 20% tax on Chinese goods, which has resulted in heightened trade tensions. With the addition of hundreds of Chinese tech businesses to its export blacklist, the Trump administration has further tightened regulations.
Trump also threatened additional tariffs in April and is demanding that ByteDance sell TikTok’s U.S. operations. Meanwhile, China has responded by strengthening ties with Southeast Asia and the European Union.
China’s Dedication to Equitable Competition
Xi told international CEOs that China will provide multinational corporations equitable chances to compete on government contracts. He opposed the idea of economic decoupling and advocated for a negotiated settlement to the trade dispute between the United States and China.
A Future Summit Between the United States and China?
The recent visit to Beijing by U.S. Senator Steve Daines has hinted at a possible meeting between Xi and Trump. Although a date has not been set, Daines stated that he hoped for further diplomacy.
As evidence of China’s efforts to recruit foreign businesses, CEOs from companies including FedEx, Pfizer, and Boeing also attended government-led discussions.
Source: NBC News
