Chinas XI Jinping continues charming offensive days before Trump reveals new prices

By John Liu, cnn

Hong Kong (CNN) – Chinese chief Xi Jinping held the court with dozens of world senior executives on Friday, while he was trying to strengthen foreign investments during a Climbing a trade war with the United States.

Reunion, in which XI reassured global investors in the country's economic prospects to arrest a slide In foreign investments, he came a few days before US President Donald Trump should announce a mega lot of prices targeting the Americas of many business partners.

Stopping China as a fertile land for foreign companies to invest and thrive, XI has made its implementation to more than 40 leaders, including FEDEX CEO, Raj Subramaniam and Qualcomm Cristiano Amon to extend their investments in the country.

China has always been, is and will inevitably continue to be an ideal, safe and promising destination for foreign investment, he said, according to a official reading Supplied by the Xinhua press agency managed by the state.

XI reiterated a commitment to improve market access, ensure equal treatment for foreign companies and strengthen communication with foreign investors. Foreign companies contribute a third party to Chinese imports and exports and a seventh of its tax revenue, while creating more than 30 million jobs, he added.

XI has called multinational societies, which, according to him, have an important international influence to speak with reason, take pragmatic measures and resist all attempts to advance the clock.

He apparently took a hit on Trump by urging foreign companies not to blindly follow actions that disrupt the security and stability of the world industrial supply chain.

Blocking the paths of others will ultimately only hinder yours, he said. The decoupling and rupture of supply chains do not harm everyone and do not lead anywhere.

Several leaders of Subramaniam, Daimler Ags Ola Kllenius, the CEO of Sanofi, Paul Hudson, and the CEO of HSBC, Christmas Quinn, spoke at the meeting, according to the state media. The other executives present included the founder of Bridgewater Associates, Ray Dalio, the president of the BMW, Oliver Zipse and the president of Toyota, Akio Toyoda, according to a live flow from the event.

Many foreign leaders stayed in Beijing after the Chinese development forum last weekend, where Prime Minister Li Qiang asked them to resist protectionism in a world of increasing instability and uncertainty.

The forum, which was assisted by representatives of 86 multinational companies this year, is an annual event frequented by international business leaders.

We have prepared for possible unexpected shocks, which, of course, come mainly from external sources, said Li on Sunday.

At a meeting with the Chinese Minister of Commerce Wang Wentao on Monday, the CEO of Apple, Tim Cook, is committed to increasing investments in the supply chain in Chinas, research and development and the social protection sectors, according to the Ministry of Commerce.

Wang has criticized the United States’s unilateral prices to disrupt commercial operations and add uncertainty to the world economy, while he stressed that China was willing to work with the United States to create a more stable political environment for businesses.

Relaunch growth

The Chinese economy continues to suffer from a myriad of challenges, including the property sectorlow consumption expenditure and deflationary pressure. However, Beijing has established a ambitious objective For the country, economic growth at 5% this year, despite the admission of the difficulties to come.

In the first two months of the year, China recorded a diver of 20% of direct foreign investments (IDE), according to the Ministry of Commerce. The low beginning of the year came after a steep drop of 27.1% of the annual total FDI last year At 826.3 billion yuan (113.4 billion dollars), the lowest figure since 2016.

The geopolitical tension and the tightening of regulations related to national security have accelerated the exodus of foreign companies and capital of China. An prolonged economic slowdown has prompted the country's leaders to a short court practively courting, both foreign investors and private Chinese companies.

In a high -level meeting Last month, XI sat with the leaders of the country's businesses, notably the founder of Alibaba, Jack Ma, the founder of Huawei, Ren Zhengfei, Byd CEO Wang Chuanfu and the CEO of Tencent Pony Ma. This is the ideal time for private companies and entrepreneurs to prosper, he told them.

The ambitious economic growth objectives of Chinas are threatened by a renewed trade conflict with Trump. Since January, the American president has already imposed an additional tariff of 20% on all Chinese imports, in addition to existing withdrawals on hundreds of billions of dollars in goods.

In retaliation, China has Imposed functions On certain American imports up to 15%, including certain agricultural and energy products, and has announced new export controls on raw materials.

On Monday, Li signed an order strengthening the country's anti-cancer law, according to state media. He said countermeasures could be taken against foreign nations that contain or abolish China or impose discriminatory measures on its citizens or entities.

American prices could increase further in the coming weeks, the White House should announce reciprocal prices in several countries at the start of next week. This decision is part of a broader thrust to rekindle national manufacturing and approach what Trump considers unfair commercial practices.

But Trump has repeatedly suggested that he hopes to conclude an agreement with China. He indicated last week that the senior commercial official of the Americas and Chinese counterparts could have talks this week.

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CNNS Fred Him and Joyce Jiang contributed the reports.