China Seeks Foreign Investment as Xi Hosts CEOs

Chinese President Xi Jinping met with top global CEOs in Beijing on Friday, as the government seeks to attract foreign investment to revitalize the country’s slowing economy and mitigate geopolitical uncertainties.

Amid concerns over the long-term stability of China’s $18 trillion economy, Beijing has been working to reassure foreign investors. However, persistent worries about regulatory unpredictability, sudden crackdowns on foreign firms, and perceived advantages for state-owned enterprises continue to impact business confidence.

The high-level engagement is part of China’s broader efforts to create a more favourable investment climate and strengthen economic ties with multinational corporations.

“I would like to express my heartfelt thanks to all the foreign enterprises that have participated in and supported China’s development,” Xi told the business leaders, who included the bosses of AstraZeneca, FedEx, Saudi Aramco, and Standard Chartered (STANB.UL).

“Foreign enterprises contribute one-third of China’s imports and exports, one-quarter of industrial added value and one-seventh of tax revenue, creating more than 30 million jobs,” Xi added.

Around 40 executives joined the meeting, said two sources with direct knowledge of its planning. The majority of which represented the pharmaceuticals sector, one source said.

REUTERS