Vice Premier He Lifeng assured foreign CEOs at the China Development Forum that China would continue to open its markets and welcome multinational investments. The dialogue focused on enhancing U.S.-China economic cooperation amid external pressures, emphasizing the importance of globalization and shared benefits from collaboration over conflict.

At the China Development Forum, which commenced on Sunday, Vice Premier He Lifeng assured foreign business leaders that China will persist in opening its markets and enhance its appeal for multinational investments, as per the Ministry of Commerce’s report. Notable attendees included CEOs like Tim Cook of Apple and Cristiano Amon of Qualcomm, alongside U.S. Senator Steve Daines, who was present for the discussions aimed at strengthening U.S.-China economic ties.

During the event, Vice Premier He emphasized the commitment of China to fostering an improved business environment and encouraged multinational companies to increase their investments, stating that the Chinese economy is “resilient, full of potential and vitality.” He highlighted the necessity of elevating economic partnerships and suggested that countries should remain open, despite rising economic fragmentation.

As China faces challenges such as sluggish domestic consumption and a declining real estate sector, efforts continue to attract foreign investments. The Chinese government previously presented an action plan that aims to reduce restrictions on foreign investment in manufacturing and streamline procedures for mergers and acquisitions, pushing towards reviving the economy amidst U.S. tariffs that threaten export growth.

At the forum’s opening, Premier Li Qiang urged companies to be advocates of globalization in light of increasing economic tensions. In his discussions with Senator Daines and American executives, he noted that cooperation is mutually advantageous while confrontation yields losses, underscoring, “No country can achieve development and prosperity through imposing tariffs.”

Senator Daines expressed that American CEOs conveyed their dedication to engaging with China, while also addressing their operational challenges, reinforcing President Trump’s demand for actions against fentanyl precursor trafficking. Daines called for more high-level dialogues between China and the U.S. to further these objectives as he becomes the first U.S. politician to visit China following Trump’s election.

In summary, the China Development Forum served as a platform for reaffirming China’s commitment to market openness and foreign investment. With prominent global CEOs engaging in dialogue, the discussions underscored the importance of cooperation between China and the United States. The ongoing efforts to attract foreign businesses amid economic challenges highlight both nations’ interdependence in achieving prosperity through collaboration, rather than confrontation.

Original Source: www.nbclosangeles.com

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