China’s Vice Premier Expresses Support for U.S. Investments in Meeting with Blackstone Chairman
China’s Vice Premier He Lifeng met with Blackstone Chairman Stephen Schwarzman in Beijing, expressing a welcome for more U.S. investment and highlighting improved economic prospects. Schwarzman reaffirmed Blackstone’s confidence and desire to engage with the Chinese market, while also noting that a new Asia private equity fund would focus primarily on India, rather than China.
On Tuesday, China’s Vice Premier He Lifeng convened with Blackstone Chairman Stephen Schwarzman in Beijing. As reported by the official Xinhua news agency, Vice Premier He expressed that China is open to welcoming more investment from U.S.-based enterprises and long-term capital. He highlighted improvements in China’s economic development, noting that the outlook appears increasingly promising.
The Vice Premier stated, “We welcome more U.S.-funded enterprises and long-term capital, including Blackstone, to continue to deepen mutually beneficial cooperation with China and play a greater role in promoting the healthy development of China-US economic and trade relations,” as quoted by Xinhua.
In response, Schwarzman conveyed Blackstone’s strong confidence in China’s economic potential. He emphasized the firm’s commitment to actively engaging with the Chinese market and contributing positively to U.S.-China economic and trade relations.
Blackstone is reportedly in the process of raising at least $10 billion for a new Asia-focused private equity fund, primarily targeting India, according to a Reuters report from October. Sources indicated that China would not be a focus area for investment within this fund.
In summary, the meeting between China’s Vice Premier He Lifeng and Blackstone Chairman Stephen Schwarzman underscores the ongoing interest in enhancing U.S.-China economic cooperation. Both parties expressed a positive outlook towards investment and collaboration, particularly as Blackstone plans its new Asia private equity fund, despite its focus on India rather than China. This dialogue reflects an acknowledgment of the significant role U.S. enterprises may play in China’s economic future.
Original Source: www.tradingview.com
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