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With Samsung’s $24bn invested, China encourages Korea to keep investment flowing

Chinese Premier Li Qiang told Samsung Chairman Jay Y. Lee that China welcomed further investment by the Korean conglomerate as foreign businesses in the Chinese market struggle to navigate geopolitical uncertainties.

Over the past six years, Samsung Electronics has invested $24 billion in the Chinese market. But it has seen its business face growing challenges amid U.S.-China tensions as it navigates export controls Washington has rolled out to cut off China’s access to cutting-edge chips.

Samsung Electronics has over the past six years invested $24 billion in the Chinese market, a company executive was quoted as saying in a November report by state-run China Daily.

But the Korean tech giant has seen its business face growing challenges amid U.S.-China tensions as it navigates export controls Washington has rolled out to cut off China’s access to cutting-edge chips.

Li’s choice to meet with a Samsung executive echoed earlier remarks the Chinese leader gave during a bilateral meeting with Yoon, where he encouraged more Korean enterprises to invest and do business in China and urged Beijing and Seoul to cooperate on maintaining the stability of industrial supply chains. Reuters

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