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China’s Premier Li Qiang Urges Samsung to Expand Investment

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China’s Premier Li Qiang Pledges Openness to Foreign Firms, Urges Samsung to Expand Investment

China’s Premier Li Qiang assured that China will remain open to foreign companies and announced measures to boost their confidence in the Chinese market, state media reported. He made these remarks during a meeting with Samsung Chairman Lee Jae-yong in Seoul, ahead of a trilateral summit involving South Korea, China, and Japan. Li emphasized that foreign-funded enterprises are crucial for China’s development and promised to improve the business environment by expanding market access.

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Samsung, a global leader in chips and smartphones, has heavily invested in China over the years. Premier Li welcomed South Korean companies, including Samsung, to continue and expand their investments in China. He highlighted the significance of foreign enterprises and assured that China’s vast market would always be open to them. Li also called for deeper cooperation in emerging fields like artificial intelligence.

The meeting comes amid ongoing tensions between the United States and China over advanced semiconductor technology. The US has implemented measures to block China’s access to cutting-edge semiconductor tech, including incentives to relocate production to the US. Despite these challenges, Li’s comments signal China’s intent to maintain and enhance its relationship with key foreign investors like Samsung.

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