China to hold a summit to promote global trade
The Global Trade and Investment Promotion Summit of 2023 will take place in Beijing on the 24th of May.
The summit’s main purpose is to become a high-level dialogue platform for the business directions of different countries to jointly discuss global issues, develop new points of international economic steps, and promote the unified reform of global economic management.
Leaders of many countries, heads of international organizations and economic institutions, managers of multinational companies, and scientists will attend the summit.
The summit will feature parallel forums focusing on China’s modernization and digital economy.
Geopolitical relations between US and China
The negative turn in bilateral relations is raising fears among American businesses operating in China, despite their overall positive outlook on the Chinese economy.
59 percent of 109 respondents had a positive view of China’s economic recovery in the latest AmCham survey, a significant increase from 33 percent in the previous survey released in March.
Recently, relations between Beijing and Washington have been strained due to many outstanding areas, such as technical competence and security aspects in the Taiwan Strait. Although recent speeches by the US Treasury Secretary and the US Trade Representative have warned of disengagement from China, there haven’t been any significant steps regarding ties between the two countries.
Bilateral relations and geopolitical challenges now rank first and second among the top five challenges facing businesses, according to a new study.
Optimism about China’s economic recovery is not entirely on the expected potential profitability when the number of people who are positive about their companies’ earnings rose by just 4 percentage points over the same period.
China reported a 4.92 percent increase in foreign direct investment this year.
Forty percent of AmCham members have no plans to change investments in 2023-25. Moreover, twenty-six percent – stated that their plans for this period were unclear. Seventeen percent involved in technical or research said they plan to reduce investment.
