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Premier talks with Fortune 500 CEOs about globalization

Updated: Jun 8,2017 9:04 PM

Premier Li Keqiang has met with CEOs from about 20 Fortune 500 companies in Beijing.

The group, which gathered on June 7, discussed issues including globalization, market supervision, trade facilitation and innovation in capacity buildings at the meeting.

The international business leaders met in China to attend the fifth summit of the Global CEO Council.

“Economic globalization, free trade and investment facilitation have boosted fair competition and innovation, as well as contributed to world peace, stability, and balanced, sustainable development,” Premier Li said.

“They are the direction of human civilization.”

The Premier added China was willing to work with countries and sectors to tackle challenges, uphold globalization and multilateralism, improve global governance, and promote a more fair and inclusive globalization.

“China has continued to transform its government functions by streamlining administration, delegating powers, and improving regulation and services,” he said.

“We are implementing the innovation-driven development strategy, and taking an inclusive and cautious attitude to supervise new industries and business models; in order to push a new economic impetus and, at the same time, prevent risks.

“We are trying to maintain a medium-to-high growth rate of the economy and upgrade its structure.”

Premier Li added with huge potential, abundant human resources and improving industrial standards, the Chinese market could further provide a broad space for multinational corporations to invest and expand their businesses, while also setting up a platform for multilateral cooperation.

He said China would continue to relax market access, promote the “negative list” model of foreign investment management, and better protect intellectual property rights, with the aim of turning itself into the most attractive destination for investment by improving the policy environment for foreign investors.

Premier Li then called on multinational corporations to seize the opportunity and share development results with the Chinese economy

Entrepreneurs, who attended the meeting, spoke highly of China’s efforts on creating favorable environments for foreign investment, through the promotion of economic globalization and trade liberalization, and expanding market access.

Moreover, the group was optimistic about the huge market potential of various fields — including telecommunication, aerospace, cutting-edged manufacturing, e-commerce, logistics, tourism, biomedicine and new energy — and were willing to upgrade cooperation levels and expand business in China in accordance to its development strategy and priorities.