China to Host Global CEOs for Meeting with President Xi Jinping on March 28
Global CEOs, including leaders from Qualcomm and Saudi Aramco, are set to meet in Beijing, with discussions including a meeting with President Xi Jinping on March 28. Senator Steve Daines is expected to address fentanyl issues with Chinese leaders amid ongoing trade tensions. The China Development Forum aims to showcase China’s openness for business, reflecting a shift from previous US protectionist policies.
China is preparing for an important gathering of global chief executive officers, including Qualcomm’s Cristiano Amon and Amin Nasser of Saudi Aramco, in Beijing. According to sources, plans are underway for these executives to meet with President Xi Jinping on March 28, pending final confirmation. Participants include prominent figures who have attended the China Development Forum previously, scheduled for March 23-24, such as Blackstone’s Steve Schwarzman and Pfizer’s Albert Bourla.
In addition, Republican Senator Steve Daines is anticipated to meet with a senior Chinese official and US business representatives to address issues including the problematic flow of fentanyl. Senator Daines has conveyed his intention to discuss this matter on social media, highlighting the ongoing tensions regarding trade and drug trafficking. The Financial Times has reported this visit alongside the potential meeting between the CEOs and President Xi.
This planned interaction with top global business leaders denotes China’s intent to promote itself as an open market, in stark contrast to former President Trump’s protectionist policies. Xi’s recent engagement with entrepreneurs such as Alibaba’s co-founder, Jack Ma, further exemplifies Beijing’s efforts to project its support of private enterprise, especially amid Xi’s goal to counteract declining foreign investment.
The Chinese government aims to achieve approximately 5% economic growth this year, a target that could be jeopardized by escalating tariffs. In response to recent tariff impositions that affect various US goods, discussions between US and China officials have stalled, with both sides struggling to find common ground and communicate effectively.
The China Development Forum has served as a vital platform for international dialogue since its inception in 2000. Some CEOs attending this year’s forum are also expected to participate in the Boao Forum for Asia in Hainan from March 25-28, as well as the HSBC Global Investment Summit in Hong Kong from March 25-27. A smaller group of American business leaders had a brief meeting with Xi last year, which lasted over 90 minutes and featured direct dialogue. During that meeting, Xi expressed a desire for continued American investment in China, dismissing the notion of decoupling between the two nations, which was more common before the pandemic.
The upcoming meeting between global CEOs and President Xi Jinping highlights China’s commitment to fostering international business relations, contrasting with former US policies. As China attempts to strengthen its economy amidst external pressures, it aims for an image of openness to foreign investment. Challenges remain regarding US tariffs and the fentanyl crisis, illustrating the complexities of Sino-American relations at this pivotal economic juncture.
Original Source: www.business-standard.com
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