From CNBC: 2024-12-10 18:11:38

Chinese Vice Premier He Lifeng has met with top U.S. finance executives to build relationships ahead of potential tariffs from President-elect Donald Trump. China is seeking to gauge the new administration’s stance on trade and secure lines of communication through back channels with Wall Street leaders.

The high-level meetings included discussions with BlackRock, Goldman Sachs, Citigroup, Invesco, and HSBC executives. Beijing is keeping its options open, with the Chinese vice premier signaling a willingness to open up the financial sector and attract foreign investment as a way to mitigate potential trade tensions with the U.S.

The Chinese government’s actions, including hosting Wall Street leaders and signaling shifts toward stimulus, indicate a strategic approach to managing potential tariffs and trade tensions with the U.S. Beijing remains prepared for a worst-case scenario while engaging in dialogue with key financial institutions to maintain open lines of communication.

Read more: China ramps up Wall Street meetings as Trump inauguration looms