China Vows Deeper Economic Opening in Talks With Global Business Leaders
China’s Vice Premier He Lifeng assured a group of prominent global executives and scholars that Beijing remains committed to opening its economy, as part of broader efforts to bolster foreign investor sentiment amid persistent economic headwinds.
Meeting with the advisory board of Tsinghua University’s School of Economics and Management (SEM) on Oct. 16, He said China would continue to advance the development of a unified national market and press forward with “high-level opening-up,” according to state-run Xinhua News Agency. He emphasized the country’s willingness to deepen “mutually beneficial cooperation with all countries.”
The board, chaired by Apple Inc. CEO Tim Cook, includes founders and executives of multinational companies and financial institutions. Cook and other board members voiced their optimism about China’s growth prospects and reaffirmed their intention to continue investing in the country, Xinhua said.
The gathering marked the 26th annual meeting of the advisory board, a key platform for dialogue between Beijing and the international business community. This year’s session comes as China’s leadership seeks to stabilize capital flows and revive foreign investor confidence, following slower growth and geopolitical tensions.
On the evening of Oct. 16, Wang Qishan, a former Chinese vice president and honorary chairman of the advisory board, hosted a banquet for attendees. The next day, Cook chaired the formal session of the meeting, during which Tsinghua University President Li Luming delivered greetings from the board’s founding honorary chairman, Zhu Rongji — a former Chinese premier and the school’s first dean.
This year’s event added a seminar focused on the Chinese economy. Yang Weimin, a former senior economic policy official and member of the Chinese People’s Political Consultative Conference, delivered the keynote address. A roundtable discussion followed, featuring Yang, former central bank governor Yi Gang, and Guo Shuqing, a former top banking regulator, who shared their outlooks on China’s economic trajectory.
Other attendees included former Finance Minister Lou Jiwei; Blackstone Inc. co-founder Stephen A. Schwarzman; Bridgewater Associates founder Ray Dalio; Baidu Inc. founder Robin Li; and Pony Ma, co-founder of Tencent Holdings Ltd. Also present were the chairmen of Mercedes-Benz Group AG and BMW AG, along with the CEOs of Nike Inc. and Walmart Inc.
caixinglobal.com is the English-language online news portal of Chinese financial and business news media group Caixin. Global Neighbours is authorized to reprint this article.
Image: Arx PhotoStock – stock.adobe.com