What ‘deep concerns’ were raised when Premier Li Qiang met US Chamber of Commerce?

In the lead-up to Premier Li’s maiden work report on Tuesday, he sat down with a delegation representing US business interests, and a source highlights points of contention

Business analyst says ‘inflection point’ reached in Chinese market, forcing multinationals to reassess their growth and profit expectations

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Premier Li Qiang speaks with US Chamber of Commerce president Suzanne Clark in Beijing on February 28. Photo: Xinhua

Published: 6:02pm, 5 Mar 2024

In a sign that foreign investor confidence in China could remain subdued this year, the American business community has expressed concerns about how determined Beijing is to remove on-the-ground market barriers, and also about uncertainties surrounding bilateral relations in a US election year.

The worries were conveyed during discussions among American firms and also with representatives of Chinese agencies during last week’s visit of a high-level US business delegation to Beijing, the Post has learned.

The US Chamber of Commerce, led by president and CEO Suzanne Clark, met with Premier Li Qiang, China’s No 2 political figure, as well as officials from China’s commerce ministry.

The delegation also met with international divisions of China’s Ministry of Commerce, the National Development and Reform Commission and the State Administration for Market Regulation, according to a source who spoke on condition of anonymity because of the matter’s sensitivity.

However, members of the US chamber were said to have expressed doubts on issues such as the effectiveness of working groups established by the US Department of Commerce and Treasury, as well as on China’s motivation to resolve problems in the pharmaceuticals market.