javascript hit counter
Business, Financial News, U.S and International Breaking News

China’s new ambassador to the U.S. arrives to ‘safeguard’ Beijing’s pursuits

Xie Feng, China’s new ambassador to the U.S., addresses the media as he arrives at JFK airport in New York Metropolis, Could 23, 2023.

Brendan McDermid | Reuters

China’s new ambassador to the U.S. arrived in New York Tuesday with a name to “safeguard the pursuits of China,” in response to a launch from the nation’s embassy within the U.S.

Xie Feng assumes workplace after a interval of about six months during which China has had no ambassador to the U.S. He was most just lately a vice overseas minister.

Xie stated Tuesday the bilateral relationship faces “critical difficulties and challenges,” and his mission is to “improve China-U.S. exchanges and cooperation,” the discharge stated in English.

The U.S. Division of State didn’t instantly reply to a CNBC request for remark.

The prior ambassador, Qin Gang, was promoted in December to turn into China’s new overseas minister. Earlier this month, Qin met U.S. Ambassador to China Nicholas Burns in Beijing for the primary time since assuming his new function.

China's Micron ban is 'peanuts' compared to U.S. sanctions against China, says Yale's Stephen Roach

Tensions between the 2 nations escalated in February after the U.S. shot down an alleged Chinese language spy balloon over American airspace. U.S. Secretary of State Antony Blinken had deliberate to go to Beijing round that point, however determined to postpone the journey after the balloon incident.

Over the weekend, U.S. President Joe Biden stated these tensions would “start to thaw very shortly.”

“We’re not trying to decouple from China, we’re trying to de-risk and diversify our relationship with China,” Biden instructed reporters following the Group of Seven assembly in Hiroshima, Japan, in response to a White Home transcript.

Essentially the most optimistic state of affairs for a ‘thaw’ is solely a halt within the decline of relations.

Gabriel Wildau


He didn’t talk about potential new guidelines limiting U.S. companies’ funding in superior Chinese language know-how.

“Essentially the most optimistic state of affairs for a ‘thaw’ is solely a halt within the decline of relations,” Gabriel Wildau, managing director at consulting agency Teneo, stated in a observe. “For monetary markets and multinational firms working in China, nonetheless, such a halt can be important.”

“Even absent concrete coverage modifications, a common sense that the downward spiral has stopped might scale back danger perceptions and unlock new funding.”

Learn extra about China from CNBC Professional

Correction: This story has been up to date to mirror that Nicholas Burns and Qin Gang’s assembly in Beijing this month was their first for the reason that latter assumed his new function as overseas minister.

This text was initially printed by Learn the authentic article right here.

Comments are closed.