SwedCham China Insights for week of November 18 – November 22

SwedCham China Insights for November 18 – November 22

Content Provided by Kreab

Top news of the week:

President Xi Jinping meets Biden in Lima

18 November 2024

On November 16 local time, President Xi Jinping met with US President Joe Biden on the sidelines of the 31st APEC Economic Leaders’ Meeting in Lima, Peru. Xi said that the Taiwan question, democracy and human rights, China’s path and system, and China’s development right are four red lines for China, which must not be challenged or crossed.

China urges peaceful resolution as Ukraine crisis marks 1,000 days

19 November 2024

A Chinese envoy reiterated a call for resolving the Ukraine crisis through dialogue and negotiation and urged the international community to support these efforts and create favorable conditions for peace talks. The envoy made the calling during a UN Security Council high-level meeting on November 18 to mark the 1,000th day since the outbreak of the Russia-Ukraine conflict.

Xi outlines China’s 8 actions for global development during G20 Summit

20 November 2024

President Xi Jinping unveiled China’s eight major actions to shore up global development at the first session of the 19th G20 Summit on November 18 local time, calling for more “bridges of cooperation” and less “small yard, high fences” to support the modernization of developing nations.

China, Brazil sign 38 cooperation documents during President Xi’s state visit

21 November 2024

China and Brazil signed 38 cooperation agreements during President Xi Jinping’s state visit to Brazil. Among these was a joint statement announcing the elevation of bilateral ties to the community with a shared future for a more just world and a more sustainable planet. The other 37 agreements focused on aligning the development strategies of the two nations.

China’s commerce ministry rolls out measures to support foreign trade

22 November 2024

China’s Ministry of Commerce released a broader set of initiatives to support the stable growth of foreign trade on November 21. Nine measures were specified to boost foreign trade, involving support and guidance in insurance, financing, settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Insight of the week:

President Xi Jinping travelled to Lima from November 13 to 17 to attend the 31st APEC Economic Leaders’ Meeting and paid a state visit to Peru. Following this, he travelled to Rio de Janeiro from November 17 to 21 to attend the 19th G20 Summit and paid a state visit to Brazil.

During his final meeting with US leader Joe Biden on the sidelines of the APEC summit, President Xi Jinping emphasized that “a new Cold War should not be fought and cannot be won,” asserting that “containing China is unwise, unacceptable, and bound to fail.” Xi stressed the importance of a stable China-US relationship, calling it “critical to both parties and the world.” He added that Beijing’s goal of a stable relationship with Washington would remain unchanged and that he would work with the new US administration “to maintain communication, expand cooperation and manage differences.” Biden, meanwhile, said strategic competition between the two nations should not escalate into war. Both leaders highlighted progress in lowering tensions on issues such as trade and Taiwan. However, some analysts predict China-US relations may face heightened volatility when Donald Trump returns to office in two months, fueled by factors including a promise to raise tariffs on Chinese imports.

President Xi, speaking during the 31st APEC Economic Leaders’ Meeting, announced that China will host APEC in 2026.

Upon arriving in Rio de Janeiro for the 19th G20 Summit, Xi expressed readiness to work with all parties for an equal and orderly multi-polar world and a universally beneficial and inclusive economic globalization. In a written statement, Xi emphasized his hope for the G20 to play an enhanced role as a key platform for international economic cooperation.

During a meeting with German Chancellor Olaf Scholz on the sidelines of the 19th G20 Summit, Xi expressed hope that Germany would assist in resolving the EU-China tariff dispute on Chinese electric vehicles swiftly. China regards Germany as an important partner in advancing Chinese modernization and will continue to provide German companies with broad market opportunities. Scholz also expressed hope that the electric vehicle issue would be resolved through dialogue and negotiations as soon as possible, adding that Germany is willing to make active efforts toward this goal.

During a meeting with French President Emmanuel Macron on the sidelines of the G20 Summit, President Xi Jinping expressed hope that bilateral ties would contribute more significantly to fostering sound China-EU relations and promoting global peace and stability. China is willing to continue to advance high-level exchanges with France while deepening exchanges in areas such as culture, education and people-to-people bonds. On the Ukraine crisis, Xi reiterated China’s desire for easing the conflict and pledged to continue playing a constructive role in facilitating a ceasefire and resolution in its own way. Macron affirmed France’s willingness to work with China to implement the consensus reached by the two heads of state, agreeing that the two sides should deepen high-level exchanges and enhance people-to-people and cultural exchanges while continuing traditional friendship. He also expressed the desire to deepen cooperation with China in climate change, artificial intelligence, global management and other fields.