China’s Xi meets American CEOs to boost confidence in world’s second largest economy
CNN
Chinese leader Xi Jinping met more than a dozen US CEOs and academics on Wednesday as Beijing renewed efforts to woo back foreign investors and mend strained relations with the United States.
Chinese leader Xi Jinping met more than a dozen US CEOs and academics on Wednesday as Beijing renewed efforts to woo back foreign investors and mend strained relations with the United States. Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. The group included Cristiano Amon of Qualcomm (QCOM), Raj Subramaniam of FedEx (FDX) and Stephen Schwarzman of the Blackstone Group (BX). The meeting at Beijing’s Great Hall of the People came after the close of a major government forum that has invited global business leaders to engage with Chinese government officials over many years. About 100 global CEOs, as well as the heads of international organizations such as the International Monetary Fund and the World Bank, were in the Chinese capital this week for the annual China Development Forum. More than 30 of them are US executives, according to Chinese state media. Beijing is trying to revive confidence and stabilize foreign trade and investment as the country faces its biggest economic challenges in decades. It has rolled out a series of measures since last year, including a 24-point action plan published by the cabinet earlier this month, to attract foreign investment and expand market access in high-tech sectors.
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