Xi to address business roundtable in Seattle next week

China became the world’s largest trading nation in 2013, overtaking the US in what Beijing described as “a landmark milestone” for the country [Xinhua]

Chinese President Xi Jinping will address members of a business roundtable in Seattle during his upcoming US visit.

Xi’s trip will begin with meetings with high-tech executives in Seattle on Wednesday.

The business summit is being hosted by former US Treasury Secretary Hank Paulson.

Thirty chief executives of prominent US and Chinese companies will attend the event. These include CEOs of Apple, Microsoft, IBM, Boeing, Amazon and Chinese firms Alibaba, Tencent and Baidu among others.

With global markets unsettled by China’s slowing growth, Xi will seek to assure the representatives of US and Chinese big business of China’s commitment to pushing through further reforms.

Chinese firms have raised concerns about gaining greater access to US markets, something that Xi is expected to point out during talks with his US counterpart.

US President Barack Obama will host Xi for a state visit on September 25 when the two leaders will aim to decrease differences between the two biggest economies of the world.

China became the world’s largest trading nation in 2013, overtaking the US in what Beijing described as “a landmark milestone” for the country.

China and the US are locked in competition over trade and over military and diplomatic influence in the region.

China has repeatedly accused the US of trying to profit from the historical maritime territorial disputes between China and some of its neighbors.

In May last year, the United States charged five Chinese military officers with hacking American firms, prompting China to shut down a bilateral working group on cybersecurity.

China has denied these accusations made by Washington.

A senior Chinese military officer had labelled the United States the world’s biggest cyber-thief last year.

“In terms of both military and political intelligence and trade secrets, the United States is the world’s No.1 cyber thief and its spying force should be indicted,” Sun Jianguo, deputy chief of General Staff of the Chinese People’s Liberation Army, said.

According to documents leaked by whistleblower Edward Snowden, Washington has spied on at least 35 world leaders in addition to mass surveillance of private citizens and businesses even among key allied countries.

Meanwhile, Washington and Beijing are hoping to announce some progress towards a US-China investment treaty during Xi’s trip.

The two countries are also expected to discuss climate change commitments ahead of the climate talks starting in Paris on November 30.

Chinese President Xi Jinping’s US trip ends with a speech at the United Nations General Assembly in New York on September 28.

 

TBP and Agencies