May 20, 2020

Li is sweet on Honeywell


On Tuesday, American industrial conglomerate Honeywell opened its new emerging market headquarters and innovation center in Wuhan.

Premier Li Keqiang sent a congratulatory letter to Honeywell on the opening.

Li’s words were amiable, if a little perfunctory (

  • “With importance attached to the Chinese market and production base, Honeywell maintains long-term cooperation with China, leading to mutual development.”
Then Li got to the point:
  • “In the face of economic downward pressures at home and aboard, the Chinese government’s determination to deepen reform and opening-up will remain firm, and the promise of encouraging foreign companies to increase investment in and cooperation with China will not change.”
  • “The government will continue efforts to build a market-oriented, law-based and international business environment, where enterprises of different ownerships, both domestic and foreign, will be treated equally.”

Get smart: Li’s letter is interesting because medium-sized investments by foreign companies don’t usually merit personal messages from top leaders. Li is being very clear about his intention to support FDI and foreign business.

Get smarter: With US-China tensions spilling over into the economic sphere, Li is signaling that American firms are still welcome in China.

read more Premier congratulates Honeywell’s new project in Wuhan
Global Times: China welcomes Honeywell to Wuhan amid US' decoupling push

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