China Signals Further Economic Reforms Amid Trump Visit

China Signals Greater Openness to US Business

During a meeting with US business leaders accompanying President Donald Trump, Chinese President Xi Jinping signaled that China is moving towards greater openness, striking an upbeat note on Thursday. The meeting took place at the Great Hall of the People in Beijing, China, as the two presidents wrapped up morning talks that featured more divisive issues like trade and Taiwan.

Xi addressed more than 10 business representatives, including executives from Tesla Inc., Apple Inc., Boeing Co., and Nvidia Corp. The Chinese president emphasized that American enterprises are deeply involved in China's reform and opening up, a process from which both sides have benefited. Xi stated that China's door to the outside world will only open wider.

The message sent by Xi reiterated a pledge frequently delivered by senior Chinese officials on the world stage over the years. It also appeared to be a response to Trump's appeal to Xi to "open up" China, which he had promised to make as his first request on behalf of the business leaders accompanying him to Beijing.

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In his remarks, Xi added that he believes US firms will have even broader prospects in China. The American executives told Xi that they "highly value" the Chinese market and hope to further strengthen cooperation and cultivate their business presence there.

Later in the day, the CEOs met with Chinese Premier Li Qiang, who also struck a positive tone. Li stated that friendly cooperation remains the mainstay of China-US relations, and that China and the United States are fully capable of and should continue to be friends and partners, helping each other succeed and achieving shared prosperity.

Comparison of US Business Delegation Firms

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Trade barriers and market access have been longstanding issues between the world's two biggest economies, especially after China joined the World Trade Organization with America's backing more than two decades ago. Trump's trip was the first state visit by a sitting US president to China in nine years.

During his opening remarks to Xi, Trump brought up the business delegation, telling the Chinese president that the executives will "pay respects to you and to China" and said "they look forward to trade and doing business." As the leaders' talks got underway, some of the US executives gave brief remarks to reporters.

Musk said he wants to accomplish "many good things" during his visit and that the meetings were "wonderful." Apple's Cook gave a thumbs-up when asked how the talks went, while Huang said "Xi and President Trump were incredible." Trump is eager to secure business deals from China in sectors ranging from agriculture and energy to aerospace, including a potential historic order of Boeing jets.