Xi Jinping Expands Economic Footprint, Defying Trump

Invitation of Blacklist Company CEOs and Others, Economic Meeting Held
Commitment to Protect and Support Market Players, Full Effort for Economic Revitalization

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Chinese President Xi Jinping, who succeeded in a 'V'-shaped rebound in economic growth in the second quarter, is taking steps to revitalize the economy.

He is boldly expanding economic activities in front of U.S. President Donald Trump, who is struggling due to the resurgence of the novel coronavirus infection (COVID-19). The atmosphere seems indifferent to the U.S.-China and U.K.-China conflicts.

On the 22nd, Chinese state-run media such as People's Daily, Xinhua News Agency, and Global Times simultaneously reported that President Xi held a meeting the day before with CEOs of state-owned, private, and foreign companies.

President Xi explained the current difficult economic situation, saying, "The Chinese economy and the world economy are facing unprecedented risks from the COVID-19 virus." He then praised, "Enterprises are the main participants in China's economic activities and the main providers of jobs."

President Xi also said, "We will protect market players (enterprises) and support them to play a greater role."

He stated, "Since reform and opening up, China's market economic system has continuously developed and will develop further," promising to spare no effort in providing all possible support.

Chinese media reported that President Xi's meeting with business leaders was a show of confidence in China's economic recovery and a move mindful of the U.S. side. It was also explained that this means opening the market to attract more investment. It implies that despite U.S. sanctions, China can attract overseas funds and further develop its economy.

The Global Times explained the background, stating that despite the U.S.'s relentless unilateral pressure, the Chinese economy is recovering steadily, and President Xi held the meeting to give companies that confidence.

The meeting included the chairman of Hikvision, who is on the U.S. blacklist due to national security issues.

This content was produced with the assistance of AI translation services.