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China\u2019s commerce minister met with top global executives from technology, finance and pharmaceutical industries ahead of a high-profile business forum in Beijing, in an attempt to boost slowing\u00a0foreign investment\u00a0<\/a>amid geopolitical tensions.<\/p>\n Wang Wentao\u2019s meetings over two days included those with Apple Inc.\u2019s\u00a0Tim Cook, and\u00a0Kwak Noh-jung, chief executive officer of South Korean chipmaker SK Hynix. He also met the CEOs of Qualcomm Inc., the world\u2019s biggest seller of smartphone processors, and\u00a0Micron Technology Inc.<\/a>, the largest US maker of computer memory chips.<\/p>\n Foreign businesses\u2019 direct investment into China last year increased by the lowest amount since the early 1990s, underscoring Beijing\u2019s challenges to spur its economy. It also has to contend with a steadily accelerating outflow of manufacturing as Apple and other American brands begin to position new capacity in countries from India to Southeast Asia to mitigate risks from US-China tensions.<\/p>\n Wang is taking the opportunity ahead of the\u00a0China Development Forum<\/a>, which starts Sunday, to meet with the leaders of key companies. The annual event, begun in 2000, has been one of the few venues where foreign business chiefs could interact with China\u2019s state leaders. Premier Li Qiang will deliver a keynote speech this year.<\/p>\n China is trying to counter US restrictions on its access to technology. Wang discussed cooperation on semiconductors with SK Hynix\u2019s Kwak and said he hopes the company will continue to expand investment in China. Kwak said SK Hynix will keep pushing for greater development in China, which is one of its most important production bases and markets, according to the Chinese Commerce Ministry.<\/p>\n SK Hynix is the world\u2019s No. 2 memory chip maker after\u00a0Samsung Electronics Co.<\/a>, which is also from South Korea. US-China tensions, which include American restrictions on access to certain key products, mean the companies need to strike a\u00a0delicate balance<\/a>\u00a0between the two countries to maintain production and sales.<\/p>\n Read more:\u00a0The $9 Billion Chip Plant Stuck in Limbo of US-China Rivalry<\/a><\/p>\n Micron CEO Sanjay Mehrotra\u00a0told<\/a>\u00a0Wang the company plans to expand investment in China, according to a government statement. The commerce minister told Qualcomm\u2019s\u00a0Cristiano Amon\u00a0that China welcomes hi-tech companies to deepen investment in China.<\/p>\n Amon said he looks forward to China and US leaders creating stable expectations and a good business environment for companies. Geopolitical tensions have also soured foreign businesses on China, with JPMorgan Chase & Co.\u2019s Jamie Dimon saying earlier this year that \u201cthe risk-reward has changed dramatically\u201d in the country.<\/p>\n Trade tensions also heated up in recent months as Europe launched an\u00a0investigation<\/a>\u00a0into Chinese electric vehicle imports over state subsidies, and\u00a0moved closer<\/a>\u00a0to imposing additional tariffs. China subsequently launched its own anti-dumping investigation into brandy imported from the EU, a move seen as a retaliation against France, which supported the electric-vehicle probe.<\/p>\n Wang held a\u00a0roundtable<\/a>\u00a0with executives from overseas drugmakers including\u00a0Pfizer Inc.<\/a>\u00a0and Merck & Co. from the US, GSK Plc from the UK and\u00a0Takeda Pharmaceutical Co.<\/a>\u00a0from Japan on Saturday.<\/p>\n In a meeting with\u00a0Jean Lemierre, chairman of French lender BNP Paribas SA, Wang said China is willing to resolve trade disputes with Europe and urged the bank to play a positive role in the dialog. Lemierre said the bank is willing to facilitate such conversations.<\/p>\n French President\u00a0Emmanuel Macron\u00a0plans to\u00a0host<\/a>\u00a0Chinese counterpart\u00a0Xi Jinping\u00a0in Paris in the spring. The European Union is considering a\u00a0formal review<\/a>\u00a0of how widely its businesses use mature or lower-end chips from China, joining the US in flagging a potential risk to national security and global supply chains.<\/p>\n The US recently took more steps to ringfence and curtail its rival\u2019s artificial-intelligence and semiconductor ambitions. Wang told Apple\u2019s Cook when they met Friday that China is willing to work with the US to create a fair, stable and predictable business environment for American and Chinese companies.<\/p>\n Apple\u2019s Cook said his company\u00a0would invest further<\/a>\u00a0in applied research in China.<\/p>\n \u201cWe are continuing to invest in China, in the supply chain, in R&D and in our stores,\u201d Cook said in a video clip of the meeting.<\/p>\n\nPharmaceuticals, Banks<\/h3>\n