economy
U.S. executives, from Apple to Eli Lilly, revamp their push into the world's second-largest economy at the China Development Forum
More than 80 global executives traveled to Beijing this weekend for the state-organized China Development Forum.
TL;DR
- More than 30 U.S. corporate executives joined over 80 global executives at the China Development Forum in Beijing.
- Apple CEO Tim Cook highlighted China's rapid technological progress and Apple's commitment to the country.
- Volkswagen CEO Oliver Blume attended for the second time in four weeks, emphasizing the need for stable framework conditions and improved domestic demand in China.
- Eli Lilly announced plans to invest $3 billion in China over the next decade, with its weight-loss drug being added to China's reimbursement list.
- Chinese Premier Li Qiang pledged to ease foreign business access to the services sector and increase imports of healthcare and digital technology products.
- The forum occurs amidst U.S.-China trade tensions, though a trade truce was reached in October.