China's President Xi meets US executives in Beijing as investment wanes

27/3/2024 19:53

        China's President Xi Jinping met American business leaders at the Great Hall of the People in Beijing on Wednesday, as the government tries to woo back foreign investors and international firms seeking reassurance about the impact of new regulations.
        
        Beijing wants to boost growth of the world's second largest economy after foreign direct investment shrank 8% in 2023 amid heightened investor concern over an anti-espionage law, exit bans as well as raids on consultancies and due diligence firms.
        
        Xi's increasing focus on national security has left many companies uncertain where they might step over the line, even as Chinese leaders make public overtures towards foreign investors.
        
        "China's development has gone through all sorts of difficulties and challenges to get to where it is today. In the past, (China) did not collapse because of a 'China collapse theory' and it will also not peak now because of a 'China peak theory" Xi said, according to state media.