The president of China, Xi Jinpingcalled for multinational executives at a meeting on Friday (28) to protect the global industry and supply chains.
Meanwhile, Beijing seeks to soften foreign companies’ concerns about the threats of more tariffs in the United States.
China is having difficulty dissipating fears that one can further undermine the country’s growth, which has been struggling to recover from the Covid-19 pandemic.
Long -term discomfort regarding the increasingly regulations of China, abrupt repressions to foreign companies and an unequal business environment that favors Chinese state companies is also undermining business confidence.
“We need to work together to maintain the stability of the global industry and supply chains, which is an important guarantee for the healthy development of the world economy,” said Xi to business leaders.
Among the leaders were executives of Astrazeneca, Fedex, Saudi Aramco, Standard Chartered and Toyota.
About 40 executives attended the meeting, the most of which represented the pharmaceutical sector. The meeting lasted just over 90 minutes and seven companies were invited to speak, according to a direct source of planning.
“The CEOs with whom we talk to, and we talked to many of them, they thought it was worth it,” said Sean Stein, president of the US-China business council and one of the meeting participants.
“The president not only informed the various challenges faced by companies and the sector, but in many cases promised that the government will take action.”
The frequency of meetings between foreign executives and high -level Chinese authorities has advanced last month.
After official data showed that theDirect plummeted 27.1% per year in terms of local currency in 2024, marking the largest drop since the global financial crisis of 2008.
“Foreign companies have lost with one third of China’s imports and exports, a quarter of industrial value added value and a seventh tax revenue, creating more than 30 million jobs,” said XI.
“In recent years, foreign investments in China have also suffered interference from geopolitical factors… I often say that turning out other people’s lights does not make us more disturbed.”
Since taking over and promised a wave of new “reciprocal” tariffs that will take effect on April 2, changing countries with commercial barriers to US products, which may include China.
He imposed 20% rates on Chinese exports this month, which led China to retaliate with additional tariffs on US agricultural products.
“The essence of economic and commercial relations between China and the US is mutually beneficial and advantageous for everyone,” Xi said at the meeting.
