In early February, a Japanese glass supplier got an unexpected message from a Chinese government trade group: How can we help? As China feels coronavirus pain, it's reaching out to foreign companies to keep the investment dollars flowing in.
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@Kubota_Yoko Ford Motor, which had trouble procuring car lamps produced from its supplier in Hubei province, received special clearances from the Chinese government to quickly procure parts from the locked-down province.
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@Kubota_Yoko China's eagerness to accommodate foreign companies, many of them American, comes even as Beijing jostles with Washington for control of the coronavirus narrative. It shows how eager China is to help restart businesses as the pandemic takes a toll.
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@Kubota_Yoko In February, FDI into China fell 25.6% from a year ago—a drop that follows the two-year-long trade war with the U.S. Li Keqiang last month called for "implement targeted policies to arrest the slide in foreign trade and foreign investment.”
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@Kubota_Yoko Some U.S. companies are still plowing fresh investment dollars into China. Walmart said Wednesday it would invest $425M in Wuhan over five years, while Starbucks said earlier it's investing $125M to build a roasting plant.
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