Warum Chinas Staatspräsident Xi Jinping eine Wirtschaftsdelegation mit nach Washington nimmt

China's President Xi Jinping has taken a business delegation to Washington despite numerous US sanctions on Chinese companies. The delegation includes tech giants such as Xiaomi, BYD, and Wanxiang, as well as Cofco, China's food wholesalers. The delegation aims to find access to the American market despite the sanctions. China's Vice Premier He Lifeng and US Treasury Secretary Scott Bessent met in New York to discuss the main issues of Xi's upcoming US visit.

Zhu Lingbo, the CTO of CATL, the world's largest battery manufacturer, revealed that CATL has developed batteries with enough energy to power American pickups. CATL has been largely excluded from the American market by the US government, although the company denies this. Many Chinese companies are struggling due to weak domestic demand, a housing market crisis, and uncertain job prospects.

China's industrial sector is overwhelmed with excess capacity. Therefore, Chinese firms need access to the largely inaccessible American market. Recently, Trump even expressed hope that China would establish a factory in the US if it wanted to, which would be a significant shift. However, US authorities still exclude Chinese providers from the American market due to concerns about potential data theft from sensitive US data through vehicles.

Despite the sanctions, Chinese automakers like BYD and Xiaomi, as well as automotive supplier Wanxiang and food wholesaler Cofco, are seeking to enter the US market. The US delegation's unusual presence of CEOs from Chinese companies is an exception, as it was common for President Trump to take a business delegation to China in May.