Beijing – In a speech for the main global business leaders, the Chinese president, Xi Jinping, urged foreign investors to have faith in China’s commercial perspectives, the last movement to relive the second largest economy in the world that has been dragged by a fall in property and a loss of impulse.
“China has always been and will undoubtedly be an ideal, safe and promising investment destination for foreign investors,” XI told executives, including Akio Toyoda, president of Toyota, Lee Jae-Yong, president of Samsung Electronics and Stephen Allen Schwarzman, CEO of the investment firm Blackstone.
China remains an important exporter of products for countries around the world and has an internal market of 1.4 billion people. However, massive overlapping in the real estate sector has linked billions of dollars in capital, stirring the confidence of business and consumers and deprived of the economy of their past vitality, while a Tatuff was Unleashed by the USA. It is aggravating those problems.
Private companies, which provide a large part of growth and jobs in the economy dominated by the state of the country, have given much of the burden after years of regulatory repressions have shaken the confidence of entrepreneurs and other investors.
China’s unprecedented response to Covid-19 outbreak also closed business for a large part of three years and some sectors of the economy have not yet recovered, particularly when global supply chains are involved.
However, XI, he considered something skeptical when it comes to inviting companies abroad, said that foreign investors could have the confidence that “the opening door will only open more and more. The policy of using foreign investment has not changed and will not change,” he said.
“China contains great investment and consumption potential,” he added.
China has established An economic growth objective Of approximately 5% for this year, the same as last year and a level that analysts said it would be difficult to achieve.
The government has said that it would try to stimulate the economy of approximately $ 20 billion when borrowing more money for a series of initiatives, such as giving 300 billion yuan ($ 41.3 billion) in reimbursements to consumers who exchange cars and appliances for new ones. But much of the loans will be used to support the real estate market and local governments heavy for debt.
What is clear is that a commercial war with the United States has left the prospects for the coming months uncertain. Trump has raised tariffs on imports from China twice since he assumed office in January, leaving them in a general 20%. China has No support sign is showntaking reprisals with tariffs on US assets.
XI did not mention tariffs directly, but seemed to refer to the importance of stable commercial terms by saying: “Examining other people’s lights will not make their own lights brighter. Blocking other people’s paths will eventually block their own paths.”
For now, however, China is trying to portray itself as “an ideal, safe and promising investment destination for foreign investors,” he said.
“Going with China goes with opportunities. Believing in China is to believe in tomorrow. Investing in China is investing in the future,” said the president, who became a leader for life and also directs the ruler Communist Party.
Others who attended Friday included Amin H. Nasser, president of Saudi Aramco; Sherard Louis Cowper-Coles, president of the Chinese-Britain Business Council; Oliver Zipse, CEO of BMW and Ray Dalio, Investment Director of the Bridgewater Associates Coverage Fund.
