Chinese President Xi Jinping met with global executives to encourage investment in China amidst escalating trade tensions with the U.S. He emphasized that foreign companies have a responsibility to uphold global order and highlighted China as a safe and stable investment destination. Xi stated that China would ensure fair opportunities for foreign businesses to participate in government procurement bids.
More than 40 foreign executives attended the meeting, including representatives from Bridgewater Associates, Standard Chartered, and Blackstone Group. The trade tensions between the U.S. and China have seen tariffs raised by President Trump, with threats of additional tariffs. Xi stressed the need for negotiations to resolve trade tensions and said decoupling was not a viable solution.
China has increased trade with Southeast Asian countries and the European Union, with the U.S. being its largest trading partner on a single-country basis. Despite trade pressures, China courted major U.S. business executives at an annual conference. Additionally, U.S. Senator Steve Daines met with Chinese Premier Li Qiang in Beijing, marking the first visit by a U.S. politician since Trump’s latest term began.
Daines stated that the meeting was a step towards a potential meeting between President Xi and President Trump, with no confirmed details yet. Li emphasized the need for cooperation and stated that no one benefits from a trade war. Executives from major firms such as FedEx, Pfizer, Qualcomm, and Boeing were present at the meeting. The White House did not provide a comment on the developments.
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