China Market Update: President Xi Meets With US CEOs [Forbes]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Forbes
There were several positives from a big-picture perspective, while single stock developments disappointed. President Xi had a busy day meeting Dutch Prime Minister Mark Rutte, with, I assume, semiconductor chips as topic #1. The Netherlands has restricted exports of ASML chip-making equipment to China-based customers. President Xi also met with US CEOs, including Blackstone's BX Stephen Schwarzman, Qualcomm's QCOM Cristiano Amon, FedEx's FDX Raj Subramaniam, and Chubb's Evan Greenberg. I'll link to the official readout on Twitter (@ahern_brendan). President Xi stated, “Sino-US relations are one of the most important bilateral relations in the world.” During the hour-and-a-half meeting, President Xi acknowledged “issues with the domestic economy” while restating the opportunity in China and included a Q&A with the executives. Hopefully, more details will be revealed! It feels like the event was put together on short notice, which may explain why more executives weren't there, having
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