Down but not out
China is the land of (business) opportunity.
That was Xi Jinping’s message in his address to the APEC CEO Summit in San Francisco on Thursday.
- Xi didn't deliver the remarks in person, but rather in written form to the summit.
Xi talked up China's economic prospects (Xinhua):
- “China's economy has been steadily recovering and turning for the better.”
He said China is already "a synonym of the best investment destination," but that things will only get better:
- “China's resolve to foster a market-oriented, law-based and world-class business environment…and our policy of providing equal and quality services to foreign investors will not change.”
Xi promised specific breakthroughs, including:
- Shorter negative lists
- Improving entry policies for foreign nationals
- Removing “choke points” in financial, medical, e-payment, and other services
The big man concluded with a call to the assembled to “invest and deepen your footprint in China.”
Get smart: APEC is a rare opportunity for Xi to interface with foreign business leaders – and challenge the perception that China is inhospitable to foreign business.
- But by not showing up in person to the CEO summit (as he did in 2018), Xi signaled that attracting foreign business is not his top priority.