Tesla CEO Elon Musk, Starbucks CEO Laxman Narasimhan, JPMorgannd CEO Jamie Dimon are among the notable names who will be in China this week to assess the market.
The CEOs of some of America's biggest corporations are in China this week to assess the state of one of their top markets, as the country reopens after nearly three years of restrictions to control the pandemic.
Tesla CEO Elon Musk, Starbucks CEO Laxman Narasimhan and JPMorgannd CEO Jamie Dimon are some of the notable names.
In recent months, the CEOs of Apple, Samsung, Aramco, Volkswagen, HSBC, Standard Chartered and Kering have also made working visits to China .
CEOs' interest in the world's second-largest economy shows China's importance to many major corporations.
China remained largely in lockdown until December 2022, implementing strict epidemic control measures, increasing calls from the international business community to reduce dependence on the country. Restrictions have now been lifted, creating momentum for economic recovery since the first quarter of this year, although that recovery now appears to be weakening.
Chinese leaders have called on foreign companies to increase investment in the country, promising an open and level playing field.
That was the theme of a May 30 meeting between Mr. Musk and Chinese Foreign Minister Qin Gang, who called for a healthy relationship with the United States that would benefit both countries and the world. Mr. Musk supported that view, saying Tesla opposed decoupling from China.
In recent months, Tesla has cut prices after losing market share to rivals in China, sparking a price war in the electric vehicle sector in the country, the world's largest market for electric vehicles.
For CEOs, visits to China are an opportunity to reconnect with employees and interact with government officials for the first time in years.
During Mr. Dimon's first visit to mainland China in four years, authorities urged JPMorgan to leverage its international influence to increase investment in Shanghai, China's financial center./.
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