China’s vice-premier lunches with Dimon, Schwarzman and other Davos financiers
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World Economic Forum founder and chairman Klaus Schwab (left) and Chinese Vice-Premier Ding Xuexiang in Davos on Jan 21.
PHOTO: AFP
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DAVOS, Switzerland – Chinese Vice-Premier Ding Xuexiang met global finance and business leaders, including Blackstone chief executive Steve Schwarzman, Bridgewater Associates founder Ray Dalio and JPMorgan Chase CEO Jamie Dimon, during a private lunch in Davos on Jan 21.
The lunch, hosted by World Economic Forum founder Klaus Schwab, was also attended by BlackRock CEO Larry Fink, Standard Chartered CEO Bill Winters and Visa CEO Ryan Mclnerney.
Several Chinese government officials who are part of the country’s delegation in Switzerland were also present at the event. US financial firms have been keen to maintain good relations with Beijing, even as Chinese growth has waned.
“All the indicators are positive, but the market is waiting to see how much conviction there is and how much follows through,” an executive who attended the meeting told Reuters.
“There was a determination to complete all the transformations that they (the Chinese) set out,” said the executive, adding that the key goals for Beijing include stabilising the property market and stimulating domestic demand.
Chinese policymakers are intensifying efforts to stimulate a faltering economy in the face of concerns over potential US tariff hikes following President Donald Trump’s inauguration.
Mr Trump unexpectedly held off from imposing tariffs on China
Mr Ding on Jan 21 welcomed more investment by foreign companies in the country, adding that China was willing to solve problems encountered by domestic and foreign firms.
He is the second-highest-ranking Chinese official to rub shoulders with global business and political leaders at the Davos summit since President Xi Jinping attended in 2017. REUTERS
