China’s Economic Resilience and Business Potential Highlighted at Forum Despite Tariff Concerns

Vice Premier He Lifeng reassured foreign business leaders about China’s economic prospects during the China Development Forum, emphasizing the country’s resilience and potential for investment. He met with CEOs from major global companies such as Apple, Pfizer, and Mastercard, aiming to highlight China’s economic vitality despite mounting challenges. The meeting underscored Beijing’s efforts to attract foreign capital and stabilize investments as the government strives to boost domestic consumption amid the effects of U.S. tariffs.

In the wake of U.S. trade tensions, global investment banks have raised their forecasts for China’s 2025 economic growth, although they remain cautious. Analysts from major banks like Nomura, Citi, and Morgan Stanley have acknowledged China’s recent policy measures but remain hesitant due to ongoing deflationary pressures and the lingering impact of U.S. tariffs on Chinese goods. Despite these challenges, He reiterated China’s commitment to improving the business environment, offering opportunities for multinational companies to thrive in the region.

At the forum, Chinese Premier Li Qiang called on nations to open their markets to reduce the growing instability and uncertainty in the global economy. Li’s comments came in the context of rising geopolitical tensions, with U.S. tariffs and international trade disputes affecting global markets. U.S. Republican Senator Steve Daines, accompanied by top executives from American companies, met with Premier Li to discuss the business climate in China, emphasizing direct dialogue between U.S. businesses and Chinese leadership.

While the forum attracted over 80 representatives from various global companies, including a strong showing from American firms, attendance was slightly down compared to the previous year. Despite this, some companies remain committed to the Chinese market. For instance, Corning’s CEO expressed confidence in the long-term prospects of China, while Apple announced a significant investment in clean energy, signaling its ongoing commitment to China’s market despite the uncertain business environment.

source: Reuters