Canton Fair: Chinese Premier Li Qiang solicits views from ‘ambassadors of friendship’ as external tensions grow
- Premier Li Qiang tells overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade
- Beijing is seeking to shore up confidence and retain and entice investors, although it is facing de-risking and decoupling, as well as fresh trade probes and tariff threats
Premier Li Qiang promised overseas buyers at China’s major trade fair that Beijing would do its utmost to facilitate international commerce and investments, and also deepen opening-up, despite new external headwinds.
“I hope foreign businesses can continue to invest in China, explore and cultivate the market and capture the abundant opportunities in China’s massive market and its development,” Li said at the China Import and Export Fair in Guangzhou on Wednesday.
He added that China’s development would inject more stability into the world economy and also global trade.
Li also mentioned a raft of oft-stated goals, including efforts to align with international rules, expanded market access, ensure equal treatment for foreign firms, robust intellectual property protection and easier and convenient processes for business travellers and expats.
Li also met representatives from more than 10 international companies on the third day of the semi-annual event, which is widely known as the Canton Fair, during a symposium with overseas buyers.
“The Canton Fair, held continuously since 1957, is a testimony to China’s opening up and trade,” he said.
Li, together with National Development and Reform Commission head Zheng Shanjie and Minister of Commerce Wang Wentao, heard policy recommendations on the circular and green economies, optimising the business environment and stepping up overseas exchanges by executives from Walmart, Ikea, Auchan and other retailers from Japan, Europe, the Middle East and Africa, according to the state-backed Xinhua News Agency.
The premier also appealed for foreign companies to be “ambassadors of friendship” to foster understanding and reciprocity with China.
US importers attend China’s Canton Fair in droves, despite trade curb threats
Beijing’s moves to talk up China’s economic prospects and fight the host of Western strategies and narratives – from de-risking and decoupling to fresh trade probes and tariffs – have seen the top leadership use a flurry of recent meetings with foreign leaders and business delegations to shore up confidence and retain and entice investors.
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Despite the economy gathering pace, foreign investment inflows slumped by 19.9 per cent year on year in the first two months of the year, after foreign direct investment had fallen by 8 per cent to 1.13 trillion yuan (US$156 billion) in 2023.
Canton Fair organisers said more than 100,000 foreign purchasers had registered to attend the event as of Wednesday, up by 23 per cent from the same period of the previous session held at the end of last year.
