China moves to attract foreign investment amid heightened geopolitical tensions
Apple, Pfizer, Mastercard chiefs meet China Vice Premier
China is ramping up efforts to attract foreign investment, with Vice Premier He Lifeng meeting top executives from Apple, Pfizer, Mastercard, Cargill, and other multinational corporations on Sunday.
The discussions, which also included representatives from Eli Lilly, Medtronic, and Corning, aimed to highlight China’s business potential despite ongoing economic challenges and geopolitical tensions, reports Reuters.
According to a statement from the commerce ministry, He Lifeng assured corporate leaders that China remains committed to improving its business environment and fostering foreign investment. He described the country’s economy as "highly resilient" and "full of vitality."
Economic Pressures and U.S. Tariffs
The outreach comes at a time when China’s economy is struggling to maintain growth amid weakening domestic consumption and heightened global trade tensions. The Trump administration has imposed 20% tariffs on all Chinese goods since January, citing Beijing’s alleged failure to curb the flow of fentanyl into the U.S.
These tariffs have further strained U.S.-China relations and complicated business operations for American firms in China. At the China Development Forum, Chinese Premier Li Qiang called for countries to open their markets to counteract global economic instability. His remarks were part of a broader effort to reassure multinational corporations about the long-term prospects of investing in China.
Mixed Reactions from Business Leaders
Despite trade barriers and geopolitical concerns, some global business leaders remain optimistic. Corning CEO Wendell Weeks reaffirmed his company’s long-term commitment to China, stating, "We have been invested consistently for decades in China, and we will continue for decades to come."
Meanwhile, Apple CEO Tim Cook met with China’s trade officials, signaling continued engagement with the Chinese supply chain. However, sources indicated that fewer American executives attended this year’s forum compared to last year, reflecting lingering concerns over market conditions and U.S.-China tensions.
As China works to restore investor confidence, its outreach to global CEOs underscores Beijing’s reliance on foreign capital for economic stability. However, ongoing U.S. tariffs and geopolitical uncertainties may continue to challenge China’s efforts to boost investment.
Earlier, China has announced tariffs on more than $2.6 billion worth of Canadian agricultural and food products, escalating tensions between the two nations amid an ongoing global trade conflict.
