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(Bloomberg) — President Xi Jinping met with U.S. business executives in Beijing as tensions between the two countries continue to rise over trade restrictions and accusations of cyberattacks.
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The Chinese leader met with representatives from the U.S. business, strategic and academic communities on Wednesday, state news agency Xinhua said.
China is seeking to restore confidence after overseas investment fell to its lowest level in 30 years last year. Sentiment has been hurt by political tensions with the US, a real estate recession and entrenched deflation.
Read more: Tim Cook’s love for China helps Xi fight fears of economic recession
Investors have also complained of whiplash as China pursues twin goals of development and security, and executives have heard warm words, but authorities have investigated consultancies and suspected vague spying. Only to see them expand preventive laws and restrict access to data. The structural economic slowdown has also led executives to re-evaluate the balance between risk and return when operating in the country.
Before the pandemic, Xi held more regular meetings with executives at events such as the annual Boao Asia Forum, described as China’s Davos. He is not expected to participate in this year’s tournament, which opened on Tuesday on Hainan Island.
Read more: US CEO extends stay in China with last-minute invitation to Xi meeting
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