China Premier Li Meets Dimon, Business Chiefs at Davos Forum

(Bloomberg) -- President Xi Jinping’s chief lieutenant gathered Tuesday with the heads of JPMorgan Chase & Co., Intel Corp. and other top global firms at the World Economic Forum in Davos, Switzerland, in Beijing’s latest appeal to foreign investors.

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Premier Li Qiang on Tuesday attended a luncheon hosted by Klaus Schwab, founder and executive chairman of the WEF, along with heads of 14 multinational enterprises, according to a statement from the Chinese Foreign Ministry.

“Investing in China will bring huge returns and a better future,” Li told chief executives of firms he described as “participants, witnesses and beneficiaries of China’s reform and opening up.” The long-term positive trend of the world’s second-largest economy will not change, he said.

China “stands ready to seriously look into and solve the difficulties and problems encountered by foreign enterprises” operating in the country, he told the group, which included the heads of JPMorgan and Intel, along with Walmart Inc., BASF SE, Volkswagen AG and Siemens AG, the ministry said.

Xi met a number of foreign business leaders last year amid a slide in overseas direct investment in China to the lowest level since 2020. JPMorgan Chief Executive Officer Jamie Dimon has been among those pursuing expansion of business in China despite tensions between Washington and Beijing, and visited the country last year.

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“We welcome foreign enterprises to invest and do business in China, ensure national treatment for them, and will create a stable, fair, and predictable business environment, ” Li said.

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