Chinese attendees give US investment conference their collective snub as year-long trade war escalates, spills over to tech
- The Chinese delegation to the annual Select USA Investment Summit this week fell to 76, from 101 last year and 155 in 2017
- Nearly 20 delegates pulled out at the last minute
The Chinese delegation to a major conference on foreign investments hosted by the United States government shrank sharply for a second year, as the protracted US-China trade war diminished business appetite amid tightening regulatory scrutiny in both countries on deals.
A total of 76 company representatives and government officials from China attended the annual Select USA Investment Summit, down from last year’s 101 delegates and 155 in 2017, according to organisers of the Monday event in Washington, D.C.
Hosted by the US Department of Commerce, the three-day conference is the highest-profile event to attract foreign direct investment into the country. Over 2,900 people attended, as well as a handful of top White House officials including Larry Kudlow, the top economic adviser to US President Donald Trump, the Commerce Secretary Wilbur Ross, and Ivanka Trump, the president’s daughter and a top White House adviser.
China’s delegation was surpassed by Taiwan in 2018 and 2019 as the largest place of origin, with the 95 Chinese registrants ranking behind Taiwan, South Korea, and India.