China's economy to take centre stage as Xi Jinping heads to US for state visit
President will seek to reassure the international community that China is stable and open for business despite recent economic turmoil
China's faltering economy is expected to receive unprecedented attention when President Xi Jinping arrives in Seattle on Tuesday for the start of his first state visit to the United States.
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While officials from both countries will examine thorny issues ranging from cybersecurity to the South China Sea, Xi's main mission should be to reassure investors that China's economy is stable and open for business, observers say.
We will actively nurture capital markets that are open, transparent and stable in the long term
In a sign of what might be to come, Premier Li Keqiang said yesterday that China aimed to develop open and transparent capital markets and there was no basis for continued yuan depreciation.
"We will actively nurture capital markets that are open, transparent and stable in the long term," state TV quoted Li as saying to visiting British finance minister George Osborne.
Xi's first appointment after touching down will be to give a speech to the business community and take part in a roundtable discussion with executives.
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The trip comes as China's economic growth has slowed to 7 per cent and after a mainland stock market rout raised fears that China might not be able to maintain economic momentum.