Beijing's Charm Offensive: Reassuring Global Business Amid Trade Tensions

Chinese trade officials ramp up efforts to reassure global executives about China's economic prospects despite consumer slumps and trade disputes. Highlighting meetings with major multinationals, Beijing aims to mend U.S.-China trade relations, attracting CEOs’ commitments for increased investment and confidence in the Chinese market.

Chinese trade officials are intensifying efforts to reassure global business leaders of the country's economic stability amid rising trade tensions and consumer slowdowns. In a bid to mend trade relations, Beijing hosted several top executives from multinational companies early this week, marking a concerted charm offensive.

The ramped-up meetings come after data revealed a significant drop in foreign direct investment, coinciding with escalating tariffs with the U.S. Six of the engaged enterprises are American, with others from Europe, the U.K., and Australia. The Chinese Ministry of Commerce reiterates that mutual economic cooperation is in both nations' best interests.

During these discussions, CEOs from firms like Airbus, PepsiCo, and Bristol Myers Squibb offered pledges to boost investments in China. As the Chinese government aims to stimulate consumption in the face of domestic challenges, Beijing is also preparing to host a development conference with foreign CEOs, including a possible meeting with President Xi Jinping.

(With inputs from agencies.)