China is pushing to restart Free Trade Agreement (FTA) negotiations with Japan and the Republic of Korea (ROK) amid encouraging signs of economic collaboration. At the 2024 Beijing International Automotive Exhibition in April, Samsung Electronics announced its plans to further expand its presence in the Chinese market.
The South Korean tech giant has invested a staggering $24 billion in China and has procured over $16.5 billion worth of products from more than 3,000 upstream suppliers between 2018 and 2022, according to Geol Yang, president of Samsung Electronics China.
\"We have deeply integrated into the Chinese market and are optimistic about the potential of China's economic growth,\" Geol Yang stated. He further emphasized China's strong commitment to opening up and attracting foreign investment.
Chinese Premier Li Qiang praised Samsung's significant collaboration with China, describing it as \"a vivid epitome of mutual benefit cooperation and development between China and the Republic of Korea (ROK).\" This endorsement comes ahead of Monday's ninth trilateral summit involving China, Japan, and the ROK, marking a pivotal moment to enhance trilateral cooperation after a four-and-a-half-year pause.
Reference(s):
cgtn.com
