Foreign business leaders gather in China's Guangdong in search of opportunity

China

Foreign business leaders gather in China's Guangdong in search of opportunity

2025-04-02 22:50 Last Updated At：04-03 14:57

The China Council for the Promotion of International Trade (CCPIT) held a Foreign Invested Enterprises Tour of south China's Guangdong Province on Wednesday, bringing together representatives from the local government and hundreds of global businesses to explore new opportunities in a world wracked by economic uncertainty.

With U.S. President Trump set to roll out "reciprocal tariffs" this week, global businesses seem eager to seek more stable trade partners around the world.

At the networking event in Guangdong, local officials said that China's high-quality development agenda is a strategic buffer against global economic turbulence, and the nation’s commitment to promoting multilateralism and economic globalization make it a more attractive destination for overseas investors.

"For sure, protectionism is not something really good, right? We need multilateralism. We need more globalization, actually. We need more exchange. Everyone is waiting to see what's going to be those new tariffs," said the vice president of the French Chamber of Commerce and Industry in China Fabien Pacory, also one of the participants in the networking event.

With China introducing policies for further opening up to the world, the country is making its case as a safe haven against unpredictable U.S. economic policies.

"Canada has always been a country that is looking for trading partners and China remains Canada's second largest trading partner. So, it's a significant market for us. For us, our job is really to advocate for businesses that are trying to do business in China, share the opportunities," said David Perez-Des Rosiers, the director of Beijing Chapter of Canada China Business Council.

"We separate politics from business and from the business perspective, our economy, Mexico, China are very close, very tight. So that means in the years to come, most likely we will continue to be China's second largest trade partner, regardless of what happened in U.S. policy," said Victor Cadena, the executive vice president of the Mexican Chamber of Commerce in China.

UNGA President warns global multilateral system "under attack"

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.