Page 3 - atoday sept 24
P. 3
U.S. NEWS A3
Thursday 24 September
Xi says ‘without reform’ no
business progress in China
GENE JOHNSON treaty that would provide Chinese President Xi Jinping speaks at a U.S.-China business roundtable, comprised of U.S. and
PHUONG LE a framework for broader Chinese CEOs, Wednesday, Sept. 23, 2015, in Seattle. The Paulson Institute, in partnership with
Associated Press investment in the econo- the China Council for the Promotion of International Trade, co-hosted the event.
SEATTLE (AP) — Chinese my of each nation.
President Xi Jinping on All of the American CEOs (AP Photo/Elaine Thompson, Pool)
Wednesday addressed participating in the fo-
Amazon founder Jeff rum signed a letter to Xi Treasury Secretary Hank that reaching agreements “China will never close its
Bezos, billionaire investor and U.S. President Barack Paulson and Commerce to ensure robust interna- open door to the outside
Warren Buffett and other Obama urging them to Secretary Penny Pritzker tional trade was a priority. world,” Xi said.q
top American and Chinese support an agreement,
business leaders, vow- and they heard encourag-
ing that his country would ing words from Xi on the
work to remove barriers to topic Wednesday.
foreign investment and im- “Once concluded, the
prove intellectual property treaty will further ease
protections. market access and put
Xi’s conference with the in place more open and
business leaders in Seattle transparent market rules,”
marked the beginning of he said.
a busy day. He also toured Bilateral investment trea-
the Boeing production fa- ties provide rules for com-
cility in Everett and was to panies doing business in
visit the Microsoft campus other countries. The agree-
along with a high school in ments can help ensure the
Tacoma. rights of foreign investors
Apple Chief Executive Tim are protected and that
Cook, Microsoft CEO Sa- foreign companies oper-
tya Nadella and Jack Ma ate on a level playing field
of Chinese e-commerce with domestic ones.
giant Alibaba also were An agreement with China
among the 30 executives could open up more of
who attended a closed- that nation’s massive mar-
door discussion moderat- ket to American compa-
ed by former U.S. Treasury nies, provide clearer rules
Secretary Henry Paulson for Chinese investment in
that preceded Xi’s ad- the U.S., and create jobs in
dress. both countries, supporters
Xi told the group in a say.
speech that was open to Such treaties “can be a
media that China’s econo- powerful catalyst for more
my has “big potential” and economic growth,” said
leaders will continue to re- Evan Feigenbaum, vice
move barriers to foreign in- chairman of the Paulson
vestment. Institute, which co-hosted
“Without reform, there will the meeting.
be no driving force; with- Representatives from Twit-
out opening up, there will ter, Facebook and Google
be no progress,” Xi said were notably missing from
through an interpreter, the event. China blocks
echoing remarks he made those companies’ web-
during a speech Tuesday. sites.
“There is good news and I Earlier Wednesday it was
believe there will be more announced that Chinese
good news in the future.” companies have agreed
Xi attributed the Chinese to buy 300 jets from Boeing.
economy’s “moderation In addition, state-owned
in speed and downward Commercial Aircraft Corp.
pressure with some ups and of China signed a cooper-
downs in the stock market” ation agreement with the
to three factors — world aerospace giant to build a
economic problems, pro- 737 aircraft assembly cen-
active Chinese efforts at ter in China.
regulation and “protract- Xi arrived in Seattle on
ed structural problems” in Tuesday for a three-day
China. visit before he heads to
But, he said, “I believe in the White House later this
the long run that the fun- week.
damentals of the Chinese In the speech Tuesday, Xi
economy are good.” told dignitaries such as for-
A big item of concern for mer U.S. Secretary of State
the American CEOs was a Henry Kissinger, former
