Chinese Vice President Han Zheng meets with Executive Chairman of Visa Al Kelly in Beijing, capital of China, July 26, 2023. Photo: Xinhua

Chinese Vice President Han Zheng met with Executive Chairman of Visa Al Kelly in Beijing on Wednesday, saying that China will unswervingly advance high-level opening-up, and welcomes foreign companies, including those from the US, to invest and do business in China.

As the world's two largest economies, China and the US deepening economic and trade cooperation can achieve mutual benefits and win-win results, which is crucial to the global industrial and supply chains, according to Xinhua News Agency.

The world needs an overall stable China-US relationship, and the key lies in adhering to the principles of mutual respect, peaceful coexistence, and win-win cooperation, and implementing the consensus reached between the two heads of state at the Group of 20 Bali summit, Han said.

By reiterating the nation's commitment to widening its opening-up to the world, Han expressed his hope that the US business community will play a more important role in promoting bilateral exchanges and cooperation on economy and trade.

China's economic and social development is full of vitality, and its achievements in digital payment are impressive, Kelly said, noting that Visa has full confidence in its investment in China and stands ready to expand long-term cooperation with China and contribute to bilateral economic and trade cooperation.

On the same day, Kelly also held a meeting with Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT) in Beijing.

The two sides exchanged views on Visa's development in China, deepening practical cooperation between the Chinese and American business communities, and the company's participation in the first China International Supply Chain Expo which is scheduled to be held in Beijing from November 28 to December 2, according to a CCPIT statement.

Senior executives of foreign multinationals have been flocking to China over recent months, including Microsoft founder Bill Gates, Tesla CEO Elon Musk and Apple CEO Tim Cook. While defying calls in the West for "decoupling" or "de-risking", they expressed intentions to expand cooperation with China.

In the first half of the year, firms from developed countries accelerated their investment in China. Investment from France, the UK, Japan and Germany increased by 173.3 percent, 135.3 percent, 53 percent and 14.2 percent respectively, data from the Ministry of Commerce showed.

Global Times