Chinese leader Xi Jinping met with dozens of the world’s top executives on Friday, aiming to encourage foreign investment as tensions with the United States intensify amid an escalating trade war.
The meeting, which was intended to reassure global investors about China’s economic outlook, comes just days before U.S. President Donald Trump is expected to announce a new round of tariffs targeting America’s trading partners.
Xi described China as a “fertile ground for foreign enterprises to invest and thrive” while speaking to more than 40 executives, including FedEx CEO Raj Subramaniam and Qualcomm CEO Cristiano Amon. The goal was to encourage these influential business leaders to expand their investments in China.
“China has always been, is and will inevitably continue to be an ideal, safe and promising destination for foreign investment,” Xi remarked, according to an official readout from the state-run Xinhua news agency.
The Chinese leader reiterated his commitment to improving market access, ensuring equal treatment for foreign businesses, and enhancing communication with international investors. He emphasized that foreign companies play a critical role in China’s economy, contributing one-third of the country’s imports and exports, one-seventh of its tax revenue, and creating over 30 million jobs.
Xi also called on multinational corporations, which he noted wield “significant international influence,” to “speak up with reason, take pragmatic action, and resist any attempts to turn back the clock on progress.”
In what appeared to be a veiled criticism of President Trump, Xi urged foreign businesses to “not blindly follow actions that disrupt the safety and stability of the global industrial supply chain.” He added, “Blocking others’ paths will ultimately only obstruct your own. Decoupling and breaking supply chains harm everyone and lead nowhere.”
Several executives, including Subramaniam, Daimler AG’s Ola Källenius, Sanofi CEO Paul Hudson, and HSBC CEO Noel Quinn, spoke during the meeting, according to state media. Other notable figures in attendance included Bridgewater Associates’ founder Ray Dalio, BMW Chairman Oliver Zipse, and Toyota Chairperson Akio Toyoda, as per a live stream of the event.
Many foreign executives had remained in Beijing after attending the China Development Forum last weekend, where Premier Li Qiang urged them to “resist protectionism” in a world marked by “growing instability and uncertainty.”
