China accounts for half of global electric car sales and is also home to Tesla’s first factory outside the United States.
Tesla CEO Elon Musk has met with Chinese leaders to discuss developing electric and “intelligently networked” vehicles and expanding Tesla’s business in communist countries.
The wayward American tycoon, one of the richest men in the world, is visiting China for the first time in over three years. He met with Commerce Minister Wang Wentao on Wednesday and praised “the vitality and potential of China’s development,” according to a ministry statement.
The ministry said Musk “expressed full confidence in the Chinese market and intended to continue to deepen mutually beneficial cooperation.” “Sino-US relations are not a zero-sum game,” Musk said.
China accounts for half of global electric car sales and is also home to Tesla’s first factory outside the United States.
Tesla opened its first wholly foreign-owned auto factory in China in 2019 after the Chinese government eased ownership restrictions to promote competition and accelerate the development of the industry.
In a separate meeting, Musk “exchanged views on the development of new energy vehicles and intelligent networked vehicles” with Industry Minister Jin Zhuanglong, according to the ministry’s website.
The statement quoted Musk as saying Tesla is keen to expand in China and is “against decoupling,” which would split the world into multiple markets with incompatible products. It mentions the concern that
Musk is also the majority owner of the social media platform Twitter, whose access is blocked by the ruling Communist Party’s internet filters in China.
revive investor interest
During a visit to the world’s second-largest economy this year after pandemic restrictions that had prevented most travel were lifted, Musk said he met with cabinet ministers and China’s top economic leader, Li Qiang, on a series of events including Apple. Joined the CEOs of global companies. enter the country.
The Communist Party is seeking to revive investor interest in China’s slowing economy and reassure companies reeling from antitrust and data security crackdowns, raids on consulting firms and political and military tensions between the United States and China. .
Foreign Minister Qin Gang told Musk on Tuesday that China would “resolutely promote high levels of opening up” and create a “market-oriented, law-based and internationalized business environment,” according to a government statement. rice field.
“China’s development is an opportunity for the world,” he said.
Lee joined Apple CEO Tim Cook, Pfizer CEO Albert Bourra, Rio Tinto CEO Jakob Stausholm and Hitachi Chief Executive Toshiaki Higashihara in March. He delivered a similar reassuring message during his meeting with the CEO.
‘Yelling at each other’
Meanwhile, the CEO of America’s largest bank says all China-US conflicts over security and free and fair trade issues are ‘solvable’, favoring East-West ‘risk aversion’ over decoupling. said.
JPMorgan Chase & Co. Chief Executive Jamie Dimon said Wednesday that the United States and China need “genuine engagement” to resolve security and trade issues.
Responding to a question about US-China decoupling at the three-day JP Morgan Global China Summit in Shanghai, Dimon said, “We can’t solve these problems just by sitting across the Pacific and yelling at each other.” I can’t do it,” he said.
“I like the fact that Treasury Secretary Janet Yellen said, President. [Joe] Biden. National Security Advisor. and the secretary of state are discussing risk aversion.” “Stop trying to separate. Stop trying to hurt China and the Chinese people.”
Mr Dimon has since joked that JPMorgan will outlive the Chinese Communist Party in 2021, sparking outrage in China and expressing his dismay at his first trip to China.
