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China’s premier moves to boost business confidence on the mainland

China’s premier Wen Jiabao on 22 March made good on a pledge to increase involvement with foreign businesses, amid growing complaints that the investment environment in China is souring.

Wen answered questions in a meeting with more than 60 foreign executives attending a business summit in Beijing. Among the companies represented were HSBC Holdings PLC, Dow Chemical Co. and Morgan Stanley. The topics, ranging from climate change to fiscal policy, did not provide any new insights into Beijing’s thinking.

Wen reiterated his desire to reduce China’s carbon emissions and his opposition to trade protectionism. He also pledged to further reform China’s financial system and to reduce its dependency on exports, a policy some have said contributed to the global trade imbalance.

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(Source: The Wall Street Journal Online)