Drumming up Business!
A file photo of Xi Jinping. EFE-EPA/FILE/WU HAO

Drumming up Business!


Beijing, Mar 27 (EFE).

Chinese President Xi Jinping met with representatives of American companies on Wednesday at the Great Hall of the People in a bid to attract foreign investment amid an economic slowdown.

Although the names of the attendees were not announced, the presence of representatives from both the academic and business sectors was confirmed by state-run CCTV.

The meeting follows the China Development Forum in Beijing that concluded on Monday.

The forum was attended by prominent businessmen, including the CEO of the American company Apple, Tim Cook.

Official data indicates that Cook’s company saw a 33 percent decrease in iPhone shipments in China in February.

The meeting with the General Secretary of the Communist Party of China (CPC) was not initially scheduled as part of the China Development Forum but was arranged separately.

Local media said the meeting was an opportunity to address negative perceptions about the current business climate in China and to promote foreign direct investment in the country, which slid last year.

It aims to reinforce the confidence of foreign companies interested in increasing their participation in China.

During the National People’s Congress (NPC) held in early March, China expressed confidence in achieving its economic objectives for this year, including a 5 percent growth, as well as promising greater support for companies in strategic sectors.

On Tuesday, China emphasized the importance of bilateral relations with the United States during a meeting in Beijing between the Chinese Foreign Minister, Wang Yi, and a delegation from America, led by the president of the National Committee on United States-China Relations (NCUSCR), Evan Greenberg, and its president, Stephen Orlins.

Tuesday’s meeting with the US delegation occurred against a backdrop of thawing between the two powers after months of trade, technological, and geopolitical hostilities.

Xi and US President Joe Biden showed some degrees of rapprochement last November in a meeting in San Francisco to stabilize the tumultuous bilateral ties.

They reached agreements to combat fentanyl trafficking and reopen military communication channels.

However, both parties still differ on issues such as Taiwan, the war in Ukraine, the conflict in Gaza, mutual trade sanctions, and the situation in the South China Sea. EFE


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