China: Xi Jinping wants to better protect foreign companies and investors
In China, Xi Jinping promises to ensure more equal market access and greater protection of the intellectual property rights of foreign companies. These remarks are part of Beijing's charm offensive to attract investors.
Chinese President Xi Jinping at the Apec summit in San Francisco on Nov. 16, 2023. AP - Jeff Chiu
By: RFI Follow
With our correspondent in Beijing, Stéphane Lagarde
It was in front of the Communist Party's powerful political bureau that China's number one made the statements on Monday. For the second time in less than a month, Xi Jinping is speaking directly to investors. After promising measures to "facilitate investment and activity by foreign companies" at the last APEC summit, this time, according to the Chinese president, it is a question of "strengthening the protection of intellectual property rights" in order to "preserve the legitimate rights" of the latter.
The remarks came after the meeting between the Chinese and US presidents in San Francisco and ahead of the Sino-European summit in early December. This promise was renewed on Tuesday by Li Qiang at the opening of the first international exhibition dedicated to supply chains in Beijing. "China will continue to create an international trading environment based on the rule of law," he said. While warning of "the challenges and risks posed by protectionism and uncontrolled globalization.»
A strong call to the foot, to say the least, as most analysts agree that foreign direct investment has collapsed in China. With a drop of more than 92% recorded in the first nine months of the year, according to figures from the Foreign Exchange Administration of China published a few days ago and reported by the FT.
On Wednesday, Xi is scheduled to chair a meeting in Shanghai of officials from the eastern provinces of Jiangsu, Zhejiang and Anhui as part of the economic development of the Yangtze River, where foreign companies can be involved.
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