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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiBEIJING - China's government devoted the week to a red carpet welcome for foreign executives to try to halt a retreat in corporate investment from a market once seen as the engine of global growth.
Data from China's commerce ministry showed a decline of 8% in foreign direct investment last year. A wider gauge from the currency exchange regulator including flows of retained earnings showed a decline of about 80% in 2023 to $33 billion. It was the steepest drop since records began in 1980. "We would like to see Chinese competitors also have to make profits to stay alive," Mats Harborn, president of truckmaker Scania China, told Reuters on the sidelines of Invest China, one of three forums Beijing hosted.
Jens Eskelund, President of the European Chamber of Commerce in China, said most have not yet been backed by action. European firms still feel they operate at a disadvantage in market access, government procurement and being able to sit down with government officials, he said. "Now the question is: does the Chinese side hear that message and decide that those are issues that it wants to resolve?" Sean Stein, president of the American Chamber of Commerce in China, said.
Xi then held a surprise audience only with U.S. CEOs, including the chiefs of Qualcomm and Blackstone, in a meeting that was kept off the CDF's agenda, according to two people with direct knowledge.
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