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China investment drowns out decoupling rhetoric
Reuters![A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022.](/proxy.php?image=https%3A%2F%2Fcloudfront-us-east-2.images.arcpublishing.com%2Freuters%2F4LGFERGCNNLV7GPROGCUPPPQUA.jpg&hash=3b7e9be81d3e3daa8ac0e5902c24b2f6)
A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas Peter
April 10, 202311:31 PM GMT+8
MUMBAI, April 10 (Reuters Breakingviews) - International companies are reinforcing President Xi Jinping’s message that China is open for business. It’s a brief comfort for investors fretting about whether and how the country will fit into world trade given its soured relations with the United States.
Japan Display’s (6740.T) shares soared 21% on Monday after the Apple (AAPL.O) supplier said it would provide its OLED technology to China’s HKC. The duo will construct plants for displays used in autos, wearables and other products.
A day earlier, Tesla (TSLA.O) committed to building a factory in Shanghai that churns out 10,000 Megapack battery units a year, equal to about 40 gigawatt hours of energy storage, to ship globally.
And Europe’s Airbus (AIR.PA) just moved to double capacity in China, agreeing to push ahead with a second China assembly line despite failing to win any new orders during French President Emmanuel Macron’s recent state visit.
The new commitments provide a reminder that multinational companies are making – and want to make more – money in the People’s Republic. Three-quarters of those surveyed by the American Chamber of Commerce in Shanghai generated a profit in the world’s second largest economy in 2021. The European Union Chamber of Commerce in China paints a similar picture. At least some of the decoupling rhetoric is being drowned out.
![www.reuters.com](/proxy.php?image=https%3A%2F%2Fwww.reuters.com%2Fresizer%2Fr9sHz1fQMxuW-33HiwMxJ-j3z3c%3D%2F1200x628%2Fsmart%2Ffilters%3Aquality%2880%29%2Fcloudfront-us-east-2.images.arcpublishing.com%2Freuters%2F4LGFERGCNNLV7GPROGCUPPPQUA.jpg&hash=f0f9f2e8e9587070648715a28844b178&return_error=1)
Breakingviews - China investment drowns out decoupling rhetoric
International companies are reinforcing President Xi Jinping’s message that China is open for business. It’s a brief comfort for investors fretting about whether and how the country will fit into world trade given its soured relations with the United States.