May 20, 2020

Li is sweet on Honeywell

TRIVIUM CHINA


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 (Gov.cn):

  • “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

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

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