US-China relations: Premier Li Keqiang tells American firms there is room for cooperation, despite frosty diplomatic ties

Name: Gloves off at top-level US-China summit in Alaska with on-camera sparring
Uploaded: 2021-04-14T12:00:21.000Z
Duration: 2 min 23 s
Description: Gloves off at top-level US-China summit in Alaska with on-camera sparring

Beijing on Tuesday gathered executives from dozens of American multinational firms for meetings, briefing them on issues ranging from investment to the US-China relationship

Chinese Premier Li Keqiang told leaders from companies such as Boeing, Honeywell, Qualcomm, General Motors and Pfizer there were ‘opportunities for cooperation’

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China on Tuesday gathered executives from dozens of American multinational firms for virtual meetings. Photo: Xinhua

Sidney Leng

Published: 8:00pm, 14 Apr 2021Updated: 9:47am, 15 Apr 2021

China has assured American multinationals at two separate high-level meetings there are opportunities for mutually beneficial cooperation, despite the frosty bilateral relationship between Washington and Beijing.

At a virtual meeting on Tuesday with senior executives from more than 20 US firms including Boeing, Honeywell, Qualcomm, General Motors, Pfizer, Abbott, Corning and General Electric, Chinese Premier Li Keqiang discussed the investment environment and the US-China relationship, according to an official government report.

The meeting came on the heels of tense diplomatic talks in Alaska, where the United States and China clashed on issues ranging from Beijing’s policies in Xinjiang to Hong Kong and Taiwan. Senior diplomats left the meeting with few concrete agreements, but committed to work more closely on climate change and maintain channels for dialogue.

Tuesday’s dialogue with Li was the latest opportunity for US business leaders to share their views on the bilateral relationship and how it could be improved.

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Gloves off at top-level US-China summit in Alaska with on-camera sparring

It was also part of Beijing’s charm offensive to court US investment in China, despite increasing tensions that have led to calls for economic decoupling.

At the meeting, which was hosted by former US treasury secretary Henry Paulson, Li said the economic relationship between the world’s two largest economies was mutually beneficial and conducive to the well-being of the two peoples, as well as global stability.

“In the context of multiple shocks last year, the trade volume between the two countries bucked the trend, indicating that there are conditions and opportunities for cooperation between the two sides and that there is demand for economic and trade cooperation necessary for both of us,” Li said.

Last year, total trade between the US and China rose 8.3 per cent from a year earlier to US$586 billion, according to data from China’s General Administration of Customs. China’s exports to the US increased 7.9 per cent, while imports from the US grew at a faster pace of 9.8 per cent.