Chinese Premier Li Qiang told Samsung Chairman Jay Y. Lee that China welcomed more investment from the Korean behemoth, despite the fact that foreign businesses operating in the Chinese market find it difficult to manage geopolitical risks.
As international companies in the Chinese market struggle to manage geopolitical risks, Chinese Premier Li Qiang informed Samsung Chairman Jay Y. Lee on Sunday that China welcomed greater investment by the Korean giant.
Prior to a summit between Li, South Korean President Yoon Suk Yeol, and Japanese Prime Minister Fumio Kishida—the first three-way discussions between the Asian neighbors in more than four years—China’s second-highest ranking official met with the Korean executive in Seoul.
An executive from Samsung Electronics (005930.KS) was quoted in a November story as claiming that the business had invested $24 billion in the Chinese market over the last six years.
However, as it navigates the export restrictions Washington has implemented to deny China access to advanced processors, the Korean tech titan has experienced an increase in difficulties as a result of the tensions between the United States and China.
Li’s decision to meet with a Samsung executive was consistent with previous statements made by the Chinese leader during a bilateral meeting with Yoon, in which he urged Beijing and Seoul to work together to maintain the stability of industrial supply chains and urged more Korean businesses to invest and do business in China.
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