BEIJING (Reuters) – China’s Vice Premier He Lifeng sought to reassure foreign corporate chiefs of the country’s business potential when he met with the heads of Apple, Pfizer, Mastercard, Cargill and others on Sunday.
He also met with pharmaceutical firm Eli Lilly, medical device company Medtronic and specialty glass maker Corning, a commerce ministry statement said.
“China will continue to improve the business environment and welcome more investment by multinational companies in China, sharing opportunities for development,” He told the business leaders, describing China’s economy as “highly resilient” and “full of vitality”.
The statement did not specify where they met. Many foreign CEOs are in Beijing to attend a business forum on Sunday and Monday, with some expected to meet President Xi Jinping on Friday, sources have told Reuters.
Beijing is keen to woo foreign investment amid heightened geopolitical tensions, as policymakers try to boost domestic consumption to offset fresh U.S. tariff headwinds.
At the China Development Forum, Chinese Premier Li Qiang on Sunday urged countries to open their markets to combat “rising instability and uncertainty”, and promised more active macroeconomic policies.
U.S. Republican Senator Steve Daines, a staunch supporter of President Donald Trump, met Li on Sunday with seven senior executives from U.S. companies.
However, a source said fewer American CEOs are attending the forum compared with last year.
Some 86 company representatives from 21 countries came to the forum this year, with American firms making up the largest group of attendees, state broadcaster CCTV said.
(This story has been corrected to fix the name of a company from Conning to Corning in paragraph 2)
(Reporting by Liz Lee and Shanghai newsroom; Editing by Tom Hogue and Sonali Paul)
Comments