Xi Jinping meets US CEOs in bid to attract investment…

Bloomberg – President Xi Jinping He met with a group of U.S. business executives in Beijing last week as the White House continued to escalate bilateral tensions over trade restrictions and allegations of cyberattacks.

According to the official Xinhua news agency, the Chinese leader met with representatives of the US business, strategic and academic communities last Wednesday (27). As reported by state broadcaster CCTV, G took a group photo with those present before the meeting.

China is seeking to shore up confidence amid a slowdown in foreign investment that hit a 30-year low last year, according to one indicator.

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Tensions with the United States have risen in recent weeks after ties were cemented following a meeting with President Joe Biden in San Francisco last November.

On Tuesday (26), China said it had lodged a formal complaint with the World Trade Organization (WTO) over US subsidies for electric vehicles.

Earlier this week, US and UK government-backed Chinese hackers targeted politicians, businesses and dissidents, accusing them of stealing massive amounts of British voter data.

Relations with the United States risk becoming more strained in the coming months as former President Donald Trump's campaign gains momentum, already promising to impose higher import tariffs that could cut trade between the two countries.

Trump's rhetoric could increase pressure on Biden to take tougher measures ahead of the November election. China appears to be stepping up its efforts to attract foreign investors as it strives to meet an annual growth target of around 5%, which some economists consider ambitious.

The commerce ministry has promised to hold a roundtable meeting with foreign companies in January.

Still, investors have complained of what they say has been a “rollercoaster” as China pursues its twin goals of growth and security, only to hear heated words from executives to probe consulting firms and expand anti-espionage legislation. to the data.

A structural economic slowdown has led executives of foreign companies to reassess the balance between the risks and rewards of operating in the country.

Before the pandemic, Xi held regular meetings with executives at events such as the Boao Forum for Asia, sometimes described as China's Davos. He is not expected to participate in this year's edition in Hainan.

Several US CEOs are in Beijing for the China Development Forum, which brings together global business leaders and Chinese officials. Some executives attending the event extended their stay or rescheduled previously scheduled meetings to meet Xi after receiving a formal invitation last week, the report said. Bloomberg News.

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