China Vice Premier meets Dimon, Cook, Dalio, other CEOs in Davos
China’s Vice Premier He Lifeng met with a coterie of top global executives at the World Economic Forum in Davos , according to a person familiar with the matter — maintaining his nation’s international outreach amid fears of trade and financial fragmentation.
The group that China’s top trade negotiator met with included Apple Inc.’s Tim Cook, JPMorgan Chase & Co.’s Jamie Dimon, Bridgewater Associates founder Ray Dalio, FedEx Corp.’s Raj Subramaniam, and Mastercard Inc.’s Michael Miebach, according to the person. The group participated in a luncheon hosted by a WEF official on Tuesday, according to the person, who asked not to be identified discussing a private event.
The WEF said it doesn’t comment on the private engagements of individual participants. A representative for JPMorgan declined to comment. Apple, FedEx, Mastercard and representatives for Dalio did not immediately respond to requests for comment.
He Lifeng’s outreach is consistent with the practice of Chinese leaders privately meeting with executives while in Davos. The Chinese Foreign Ministry didn’t immediately respond to a request for comment outside of regular business hours.
The luncheon came in the wake of the United States and China stepping back from a trade standoff last year that saw mutual tariff levels for a time exceed 100 per cent. The current truce hasn’t stopped US efforts to reduce reliance on China for key industrial supply chains, nor China’s impetus to strengthen economic ties with key trading partners. President Xi Jinping hosted Canada’s Mark Carney in Beijing before the prime minister went on to the Davos forum.
Businesses ‘Welcome’
“We welcome foreign enterprises to invest in China and share in China’s opportunities,” He said in a speech at Davos Tuesday. “Should foreign enterprises encounter any problems in China, please do not hesitate to inform us – and we will actively address them.”
Foreign businesses in China have often complained about intense local competition, discrimination in the market, delays in licensing and approvals, as well as tighter export control regulations.
—With assistance from Josh Xiao, Hema Parmar, Katherine Chiglinsky, Cailley LaPara, Paige Smith and Mark Bergen.