First UPS, then Tesla, now ExxonMobil. China tells another American titan it’s open for business despite the trade war
Chinese premier promises more reform as Beijing continues to try to lure foreign investment
Beijing has again sought to assure foreign companies that it is open for business, with Chinese Premier Li Keqiang promising equal treatment for all just a day after ExxonMobil signed a multibillion-dollar deal for a project in southern China.
Li offered the assurances when he met ExxonMobil chief executive Darren Woods in Beijing on Friday to discuss a US$10 billion investment plan in Guangdong, state broadcaster China Central Television reported.
He called on the company to expand investment in China, and said all countries should safeguard free trade.
A day earlier, the American oil and gas giant said it had signed a preliminary deal to build a petrochemical complex and invest in a liquefied natural gas terminal in China. It gave no further details.
German chemical giant BASF is building a plant in Zhanjiang that it will wholly own. The complex is expected to be completed by 2030, employ 2,000 staff and use 1,000 external contractors.