Chinese Vice President Han Zheng assured American business people in Beijing of the government's commitment to opening up more industries to foreign investment. Speaking at an American Chamber of Commerce in China banquet, Han emphasized the importance of creating a market-oriented and law-based international business environment to boost confidence in China's economy.
Han highlighted China's development achievements through opening up to the world and reiterated the government's unwavering dedication to maintaining a high level of openness. This message was well-received by Chamber officials, who viewed it as a positive step towards addressing concerns of U.S. and other foreign companies operating in the Chinese market.
Despite ongoing divisions between the U.S. and China on various issues such as trade and technology, recent high-level meetings have signaled a willingness to engage and manage differences. Premier Li Qiang and the commerce minister met with a delegation from the U.S. Chamber of Commerce, acknowledging the need to address pending issues.
American Chamber of Commerce in China chair, Sean Stein, noted progress in some areas but acknowledged challenges in others, describing the current situation as a 'mixed bag.' U.S. Ambassador Nicholas Burns emphasized the importance of stability in the U.S.-China relationship while acknowledging remaining difficulties.
Burns addressed concerns such as manufacturing overcapacity in China, U.S. sanctions on Chinese companies supporting Russia's defense industry, and national security risks posed by connected vehicles from China. He clarified that the U.S. is focused on derisking its economy rather than decoupling from China, citing the need to diversify supply chains and restrict exports for national security reasons.
