Samsung Encouraged to Increase Investment in China
Updated: Aug 26
Chinese Premier Li Qiang has encouraged Samsung to increase its investment in China. The meeting between Premier Li and Samsung Chairman Jay Y. Lee took place in Seoul. Samsung has already invested $24 billion in the Chinese market over the past six years.
The encouragement comes as foreign businesses in the Chinese market face challenges due to geopolitical uncertainties. The meeting between Premier Li and Samsung Chairman Jay Y. Lee took place in Seoul ahead of a three-way summit between China, South Korea, and Japan.
Samsung Electronics has already invested $24 billion in the Chinese market over the past six years, as reported by state-run China Daily. However, the Korean conglomerate has been grappling with increasing difficulties amid the ongoing tensions between the United States and China. Export controls imposed by Washington have impacted Samsung's access to cutting-edge chips.
Premier Li's decision to meet with a Samsung executive aligns with his earlier statements during a bilateral meeting with South Korean President Yoon Suk Yeol. He encouraged more Korean enterprises to invest and conduct business in China, emphasising the importance of cooperation between Beijing and Seoul in maintaining the stability of industrial supply chains.
Chinese Premier Li Qiang has encouraged Samsung to increase its investment in China.
The meeting between Premier Li and Samsung Chairman Jay Y. Lee took place in Seoul.
Samsung has already invested $24 billion in the Chinese market over the past six years.
Source: REUTERS
