China’s Xi meets US business executives in Beijing

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BEIJING, March 27 — Chinese President Xi Jinping met with representatives of US businesses today as Beijing seeks to woo foreign investment and reassure American firms in the...

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Hosting the group of executives at Beijing’s Great Hall of the People, state broadcaster CCTV showed Xi chuckling as he expounded on what he characterised as the mutual reliance between Beijing and Washington.Among the attendees was Cristiano Amon, CEO of Qualcomm, a major producer of semiconductors — which are at the forefront of US-China tech rivalry — a photo released by Beijing’s foreign ministry showed.

Economic growth rates in China have been trending downwards for years, and Beijing this month set an annual target of “around five per cent” — significantly lower than the breakneck rates that powered the country’s meteoric rise to prosperity. Those fears were compounded last year by a broad crackdown on US consulting firms operating in China.

 

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