China’s Li pledges to address US firms’ ‘reasonable concerns’ at Beijing meeting

Chinese Premier Li Qiang has urged US companies to deepen their presence in China, pledging to address their concerns while calling on Washington to reciprocate, as Beijing gears up for President Xi Jinping’s planned visit to the United States later this month.

The remarks came as Li met a delegation from the US-China Business Council – led by its chair, Visa CEO Ryan McInerney – at the Great Hall of the People in Beijing on Tuesday.

Li said China would address the “reasonable concerns” of US companies and ensure a fair and competitive market, while urging Washington to “take concrete steps” to address issues raised by Beijing and implement the outcomes of recent bilateral trade talks between the two sides.

“China may be the only market in the world that combines the two qualities of being large and new,” Li said, pointing to the country’s fast-growing smart and green consumption sectors.

Li added that frictions were normal given the scale of bilateral trade between China and the US, and that solutions could be found to any issues through mutual respect and consultation.

The US-China Business Council represents more than 270 US companies operating in China, including Visa, Medtronic, 3M and Pfizer.