China’s President Xi meets US executives in Beijing as investment wanes

Chinese President Xi Jinping met with representatives from American business, strategic and academic communities in Beijing on Wednesday. According to Xinhua news today

“The success of China and the United States is each other’s opportunity. As long as both sides treat each other as partners with mutual respect, peaceful coexistence and win-win cooperation, China-U.S. relations will get better” Xi said, “China’s economy is healthy and sustainable, noting that China’s growth rate was one of the fastest among major economies last year.”

Xi told US guests China is planning and implementing a series of major measures to comprehensively deepen reform, foster a world-class business environment that is market-oriented, law-based and internationalized, and provide broader development space for international businesses including U.S. companies.

Xi urged the United States to work with China in the same direction, establish a correct strategic perception, and properly handle sensitive issues to maintain the momentum for bilateral relations to stabilize from a downward spiral.

The attendees included Evan Greenberg, chairman of the National Committee on U.S.-China Relations, Stephen Schwarzman, chairman and CEO of the Blackstone Group, Cristiano Amon, president and CEO of Qualcomm, Graham Allison, founding dean of Harvard’s John F. Kennedy School of Government, and Craig Allen, president of the U.S.-China Business Council.

Reuters also reported that Beijing wants to boost growth of the world’s second largest economy after foreign direct investment shrank 8% in 2023 amid heightened investor concern over an anti-espionage law, exit bans as well as raids on consultancies and due diligence firms.

“China’s development has gone through all sorts of difficulties and challenges to get to where it is today.” Xi added that in the past China did not collapse because of a ‘China collapse theory’ and it will also not peak now because of a ‘China peak theory.

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