Chinese President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to boost investor sentiment as rising tariffs fuel uncertainty for the economy and international trade.
Author of the article:
Bloomberg News
Bloomberg News
Published Mar 28, 2025 • 3 minute read
You can save this article by registering for free here. Or sign-in if you have an account.
qif}u6cjddx2u}bomfja87x3_media_dl_1.pngState Administration of Foreign
Article content
(Bloomberg) — Chinese President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to boost investor sentiment as rising tariffs fuel uncertainty for the economy and international trade.
Article content
Article content
Xi on Friday told more than 40 leaders of companies spanning finance, manufacturing and technology that China welcomes their investment. He also acknowledged how geopolitical factors — which he called “distractions” — have affected their ability to do business with his country in recent years.
Advertisement 2
This advertisement has not loaded yet, but your article continues below.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.
Daily content from Financial Times, the world’s leading global business publication.
Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.
Daily content from Financial Times, the world’s leading global business publication.
Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
Access articles from across Canada with one account.
Share your thoughts and join the conversation in the comments.
Enjoy additional articles per month.
Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
Access articles from across Canada with one account
Share your thoughts and join the conversation in the comments
Enjoy additional articles per month
Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
“All of you are welcome to keep your lines of communication with us,” Xi said at the Great Hall of the People, praising the corporate leaders for contributing to China’s growth and creating job opportunities. “Foreign businesses are important participants in China’s modernization.”
The number of attendees more than doubled that of last year’s event, when Xi met about 20 mostly US business figures to burnish confidence in the world’s second-largest economy. Unlike in 2024, he also invited reporters into the room where he gave the concluding remarks.
The action appears to be an attempt to project openness as the US ramps up protectionist measures against adversaries and allies alike, with a 25% tariff on auto imports and potential fresh levies on the EU and Canada intensifying an already destabilizing trade war.
In his speech, Xi said friction in China-US ties should be managed through dialog and called on companies to work with China to uphold the global economic order, in a veiled critique of the Trump administration’s trade actions.
Top Stories
Get the latest headlines, breaking news and columns.
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Thanks for signing up!
A welcome email is on its way. If you don’t see it, please check your junk folder.
The next issue of Top Stories will soon be in your inbox.
We encountered an issue signing you up. Please try again
Article content
Advertisement 3
This advertisement has not loaded yet, but your article continues below.
Article content
“Blowing out another lamp won’t make your own glow brighter, blocking another’s path and you will ultimately block your own,” Xi said, calling on the firms to help maintain stable industrial and supply chains.
The attendees represent companies from countries including the US, Europe, Japan and South Korea, and some shared views that Xi said the Chinese government will “study and consider.” Chinese officials overseeing the economy, finance, trade and national development joined the meeting, highlighting the importance Xi attached to the event.
Slowing economic expansion and mounting geopolitical tensions have hurt the appeal of investing in the Asian nation, with inbound investment tumbling last year to its lowest in over three decades.
More headwinds may come next month, when the US is set to complete a review of Beijing’s compliance with the phase-one trade deal struck during US President Donald Trump’s first term and impose reciprocal duties globally.
Advertisement 4
This advertisement has not loaded yet, but your article continues below.
Article content
Chinese Premier Li Qiang on Sunday said the country is prepared for “shocks that exceed expectations” as the government targets an ambitious growth target of about 5% this year. Economists estimate that Beijing would need to unleash trillions of yuan in stimulus to hit that goal if tariffs surge.
China’s interaction with the top business figures underscores the message it’s been sending that the nation is open for business — contrasting itself with Trump’s more protectionist “America First” policies.
Beijing is also trying to cast itself as a supporter of private enterprise, illustrated by Xi’s high-profile meeting last month with entrepreneurs like Alibaba Group Holding Ltd. co-founder Jack Ma.
Many global CEOs had traveled to China for the annual China Development Forum and the Boao Forum for Asia, which concludes on Friday. The meeting marks an upgrade from earlier years when China’s No. 2 official met executives on the sidelines of the CDF, although Xi broke precedent last year to meet a group of US businesspeople.
Advertisement 5
This advertisement has not loaded yet, but your article continues below.
Article content
Republican Senator Steve Daines, a member of the Foreign Relations Committee, met with several Chinese leaders including Premier Li earlier this week, in what has been seen as an initial step to set up a summit between Xi and Trump.
Several US firms have already been caught in the crossfire of deteriorating bilateral relations. Chinese authorities summoned Walmart Inc. executives this month over reports it asked suppliers to bear rising costs incurred by increased US tariffs. Beijing earlier placed Calvin Klein owner PVH Corp. and US gene sequencing company Illumina Inc. onto a so-called blacklist of entities as US tariffs took effect.