Chinese President Xi Jinping met with global business leaders to encourage investment in China amidst rising trade tensions with the U.S. He emphasized the need for multinational companies to collaborate with China to uphold global order and assured fair opportunities in government procurement. Discussions surrounding tariff conflicts and the importance of dialog for resolving trade issues reflected the critical nature of U.S.-China economic relations.

On Friday, Chinese President Xi Jinping convened a group of global executives to advocate for investment in China amidst rising trade tensions with the United States. He stated that multinational corporations bear significant responsibility in “upholding global order” and should collaborate closely with China. Xi affirmed China’s status as a safe and stable investment environment, proclaiming, “To invest in China is to invest in tomorrow.”

During the meeting, which included over 40 prominent figures such as Ray Dalio from Bridgewater Associates and Bill Winters from Standard Chartered, Xi reiterated China’s commitment to providing equitable access for foreign enterprises in government procurement opportunities. This engagement reflects China’s approach to maintaining favorable relations with international businesses despite ongoing challenges.

Trade relations between the U.S. and China have been strained, with President Donald Trump imposing tariffs on Chinese imports due to concerns over the fentanyl crisis, while also threatening additional duties on other trading partners. Concurrently, the U.S. has added numerous Chinese tech firms to an export blacklist, representing a growing rift in the economic partnership.

In response to these tensions, Xi expressed the necessity of resolving U.S.-China trade issues through dialogue, highlighting the importance of stability in global supply chains and referencing the futility of economic decoupling. Key officials from China’s Politburo and economic ministries participated in the roundtable discussion, which included remarks from seven foreign executives before Xi concluded the meeting.

Beijing continues to engage with U.S. business leaders, as evidenced by a recent conference attended by notable figures such as Apple CEO Tim Cook, even as it navigates trade pressures. On a political note, U.S. Senator Steve Daines visited China, indicating a potential opening for dialogue between Presidents Xi and Trump. Daines commented on the importance of these discussions in the context of ongoing bilateral relations.

Chinese Premier Li Qiang reiterated the value of cooperation, stressing that a trade war benefits no one, reinforcing an overarching desire for stability in U.S.-China economic relations. A significant number of executives from major U.S. corporations were present at Daines’ meeting with Premier Li, underscoring their ongoing interests in China.

In conclusion, President Xi Jinping’s meeting with global executives underscores China’s proactive approach to maintaining international business relationships amid escalating U.S.-China trade tensions. By advocating for cooperative investment and assuring fair treatment for foreign firms, Xi seeks to reinforce China’s status as a stable economic partner. As negotiations unfold and political dialogues resume, the emphasis on collaborative efforts remains crucial for both nations. The involvement of top U.S. executives and politicians signifies a continued interest in fostering bilateral trade, despite the backdrop of tariff conflicts.

Original Source: www.cnbc.com

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