China implores US firms to invest more in northeast rust-belt region near Russia, North Korea
- During a round-table discussion attended by representatives of 55 American firms, China’s economic planner gives its pitch to pull in foreign investment
- But some foreign executives say China’s laws are still not transparent enough and the playing field remains uneven, with domestic firms still having the upper hand
China wants American firms to invest more in its old industrial base of Jilin province, which borders both Russia and North Korea, to help rejuvenate the state-dominated region amid growing tensions between Beijing and Washington.
Dozens of corporate executives from the United States attended a round-table discussion in Jilin’s capital, Changchun, on Thursday. A total of 55 American companies were represented, including the likes of GE, Honeywell and Cargill.
Ning Jizhe, vice-chairman of the National Development and Reform Commission (NDRC), used the forum as an opportunity to implore American executives to contribute to the development of bilateral relations. A few non-US firms were also there, but the meeting was primarily aimed at connecting with US corporations.
“It is hoped that US multinational companies in China will seize the opportunity … to fully tap into the development potential of China, northeast China and Jilin province; actively participate in the new dual-circulation development; integrate into regional high-quality development; and jointly write a new chapter in the revitalisation of northeast China and Jilin,” Ning said.