Chinese President Xi Meets With U.S. Business Leaders — Update

Chinese President Xi Jinping on Wednesday met with U.S. businessmen and scholars, as the world's second-largest economy seeks to attract overseas investment and prop up its ailing economy.

During the meeting, Xi called for more exchange and cooperation between the two countries, despite differences and disagreements, according to state-run China Central Television.

The Wall Street Journal had reported last week on plans for a meeting between Xi and U.S. representatives, as global business leaders and scholars gathered in Beijing for the China Development Forum, a government-sponsored economic and business forum that concluded Monday.

"Seeking common ground, reserving minor differences, and building more consensus are the same between countries, families, within families, and between relatives," Xi told U.S. business and scholar representatives on Wednesday.

American attendees Wednesday included Stephen Orlins, president of the National Committee on U.S.-China Relations; Craig Allen, president of the U.S.-China Business Council; Blackstone Chief Executive Stephen Schwarzman; Qualcomm CEO Cristiano Amon; and FedEx CEO Raj Subramaniam, according to the state broadcaster.

In a keynote speech at the forum on Sunday, Chinese Premier Li Qiang touted the nation's massive market and its long-term growth prospects before the top executives of Apple, McKinsey, Qualcomm and other multinationals.

The meeting between Xi and the U.S. executives is expected to send a positive signal after foreign direct investment to China declined for the first time in a decade in 2023. Beijing's tightened espionage and state secrets laws have spooked some global investors, raising concerns over the business environment in China.

Write to Singapore Editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

March 27, 2024 04:41 ET (08:41 GMT)

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