Seeking to warm bilateral ties and project a sunny climate for U.S. business, Chinese President Xi Jinping vowed on Wednesday to cut restrictions on foreign investment, while his chief Internet regulator appeared to lay the groundwork for a basic agreement later this week on cyber warfare.
Xi’s busy stop on the West Coast is the first leg of a week-long trip to the United States and offers him a chance to highlight China’s cooperation with U.S. companies before he heads to Washington, where he will contend with the full spectrum of irritants in relations, from tension in the South China Sea to human rights.
The Chinese leader started the day by publicly assuring U.S. business leaders that he is making it easier to invest in China, and he was later quizzed in a private session about intellectual property protection, common standards and clear, transparent regulations, according to the Paulson Institute, which hosted the event.
“We are working to create a new open economic system, push forward reform of foreign investment management and greatly reduce the restrictions on foreign investment,” Xi told the gathering of executives in Seattle, including Apple Inc Chief Executive Tim Cook and Berkshire Hathaway’s Warren Buffett.
“GM and Ford can increase their investment in China,” Xi said.
A few hours after, Boeing Co announced plans for an aircraft finishing center in China, its first outside the United States.