China president pledges to open doors to US businesses

China President Xi Jinping had the ears of 30 chief executives -- including leaders from Apple, Microsoft, Disney and GM -- and used the moment to promise further easing of restrictions on US corporations and to tout the massive potential of the Chinese market. President Xi acknowledged criticism of China’s current business environment, including problems related to intellectual property theft and limits on foreign investment in China. He said his government wanted to fix these problems, too. “We will continue to build a law-based business environment, an open environment,” President Xi said during brief remarks at the US-China Business Roundtable.

The Roundtable was an otherwise closed-door event billed as an opportunity for the 30 chief executives, evenly split between US and China companies, to privately discuss business. President Xi offered his support for a proposed investment treaty between the two nations, which supporters say would offer clearer rules for foreign investment. He said the treaty would lead to more transparent markets.