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China’s president pledges to open doors to U.S. businesses
9/24/2015 1:19:27 AM

China’s president pledges to open doors to U.S. businesses

Chinese President Xi Jinping spent Wednesday shoring up his country’s shaky relations with major U.S. companies. He promised better business opportunities while meeting with 30 chief executives – including leaders from Apple, Microsoft, Disney and GM — then seemingly delivered when Boeing announced a massive order of planes from China.

Xi used the business summit to call for further easing of restrictions on U.S. corporations and to tout the massive potential of the Chinese market. He acknowledged criticism of China’s business environment, including problems related to intellectual-property theft and limits on foreign investment in the country, and said his government wants to fix these issues, too.

“We will continue to build a law-based business environment, an open environment,” Xi said during brief remarks at a U.S.-China business roundtable, an otherwise closed-door event billed as an opportunity for the 30 chief executives, evenly split between companies from the United States and China, to have private discussions.

Xi offered his support for a proposed investment treaty between the two nations, which supporters say would offer clearer rules for foreign investment. He said the treaty would lead to more transparent markets.

“This is in keeping with China’s direction of deepening reforms and opening up, and also it will be beneficial to U.S. companies,” he said.

A two-minute explanation of the U.S.-China relationship
Play Video1:57
If American political candidates have a favorite punching bag, it's China. Wonkblog's Ana Swanson explains why so many candidates change their tune once elected, and just how important the U.S.-China relationship really is. (Jorge Ribas/The Washington Post)

Xi called for a reduction in limits on what American companies can sell in China. His case was helped by Boeing’s announcement that China was ordering 300 planes, worth some $38 billion, and that the aerospace giant would build a factory in that country.

http://www.washingtonpost.com/business/economy/china-president-pledges-to-open-doors-to-us-businesses/2015/09/23/298d24e0-94d6-4064-930a-b21578916b8d_story.html

May Wisdom and the knowledge you gained go with you,



Jim Allen III
Skype: JAllen3D
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