SEATTLE — China President Xi Jinping had the ears of 30 chief executives — including leaders from Apple, Microsoft, Disney and General Motors — and used the moment Wednesday to promise further easing of restrictions on U.S. corporations and to tout the potential of the Chinese market.
Xi acknowledged criticism of China's current business environment, including problems related to intellectual property theft and limits on foreign investment in China.
He said his government wants to fix these problems, too.
“We will continue to build a law-based business environment, an open environment,” Xi said during brief remarks at the U.S.-China Business Roundtable, an otherwise closed-door event billed as an opportunity for the 30 chief executives, evenly split between U.S. and China companies, to privately discuss business.
Xi offered his support for a proposed investment treaty between the two nations, which supporters say would offer clearer rules for foreign investment. He said the treaty would lead to more transparent markets.
“This is in keeping with China's direction of deepening reforms and opening up, and also it will be beneficial to U.S. companies,” he said.
Xi also took the opportunity to call for a reduction in limits on what American companies can sell in China.
“Chinese companies also hope to see substantive steps by the U.S. to ease restrictions on exports for civilian, high-tech items to China and create a level playing field for Chinese investment in the U.S.,” Xi said.
“A level playing field” has been a frequently used refrain by officials on both sides during Xi's seven-day U.S. tour, which began Tuesday and will send him to Washington for a state dinner Thursday at the White House and then to New York for a speech at the United Nations.
