Chinese XI calls the global executive directors to protect trade because Trump’s tariffs weave
Joe Cash and Casey Hall
PEKING (Reuters) -President XI Jinping on Friday called on a gathering of multinational executive directors to protect the global industry and supply chain, as Beijing seeks to alleviate the concern of foreign companies because of the health of Chinese economy in the midst of the threat of multiple US tariffs.
Beijing is struggling to remove fear that the renewed trade war with US President Donald Trump will further stab an increase in growth in the second largest economy world, which is struggling to recover from pandemic.
Many years of discomfort due to the pochtar Chinese regulations, the sudden decay of foreign companies and uneven playgrounds that are favored by the Chinese state -owned companies also release business feelings.
“We need to work together to maintain the stability of the global industry and supply chain, which is an important guarantee for the healthy development of the world economy,” XI told business leaders, who included Astrazenec, Fedex, Saudi Aramco, Standard Chartred and Toyota.
About 40 executives joined the meeting, most of which represented the pharmaceutical product sector. The meeting lasted just over 90 minutes, and seven companies were invited to an interview, a source said with a direct knowledge of his planning.
“Executive directors I spoke with and I talked to many of them, I felt it was worth it,” said Sean Stein, President of the US Business Council and one of the participants in the meeting. “Not only did the president acknowledge the various challenges that companies and industry face, in many cases he has committed that the Government will take measures.”
The executives were sitting in the horseshoe formation, and the Mercedes-Benza CEO Ola Kallenius and Fedex’s Raj Subramaniam were sitting directly across from the XI.
HSBC Executive Director Georges Elhedery, SK Hynix Head of Kwak Noh-Jung, President and CEO of Saudi Aramca and CEO of Amin Nasser and President Hitachi Toshiaki Higashihara also sat in the first place.
“This meeting is a major illustration of business diplomacy. Now there is not only a dialogue between the body, the WTO -Ai entity, but also the diplomacy that companies that represent only themselves, but also their sectors,” said Frank Bournois, VP and Dean of the International Business School of China Europe in Shanghai, not only to adopt and succeed.
The frequency of meetings between foreign executives and Chinese high -level officials has been picked up in the last month after official data showed that direct foreign investment in the year of the currency in 2024 fell 27.1% compared to one year.
