Chinese President Xi Jinping recently held a significant meeting with global executives in Beijing, emphasizing China’s commitment to being a safe and stable environment for foreign business. The climate meeting coincided with a statewide-sponsored, pro-local government, annual conference that continued from Sunday through Monday. That was happening at the same time as rising trade tensions between the U.S. and China. During the gathering, Xi highlighted the importance of cooperation, stating that a trade war benefits no one and should be resolved through negotiations.
Xi proclaimed that investing in China today is investing in the future.
“To invest in China is to invest in tomorrow.” – Chinese President Xi Jinping
Major corporate CEOs joined the Emergency Task Force meeting. Notable attendees included billionaires and hedge fund lobbyists Ray Dalio of Bridgewater Associates, CEO of Standard Chartered Bill Winters, and Blackstone Group CEO Steve Schwartzman. Big names like Apple CEO Tim Cook made the invitation-only event’s guest list, while Tesla CEO Elon Musk was a conspicuous no-show. Other top executives from major firms like FedEx, Pfizer, Cargill, Qualcomm, and Boeing participated, alongside U.S. China Business Council President Sean Stein.
In his speech, Xi called on multinational corporations to fulfill their obligations. He challenged them to work together with China to bring the world back in order. He promised foreign enterprises that they would receive equitable treatment when competing for Chinese government procurement contracts. This commitment goes hand in hand with recent policy blueprints aimed at creating an equitable ecosystem for businesses.
Xi further cautioned against the dangers of decoupling, noting that it provides no sustainable path forward. He emphasized the importance of keeping global supply chains open.
“We need to work for the stability of global supply chains.” – Chinese President Xi Jinping
Xi’s meeting with Chinese Premier Li Qiang at Zhongnanhai in Beijing. It is the highest-level visit of a U.S. politician to China since former President Donald Trump started his second term in January. This meeting was a reminder of China’s deliberate strategy to court international businesses while they continue their trade war with the United States.