Jay Y. Lee, executive chairman of Samsung Electronics (005930.KS), met with China's top macroeconomic policy chief during his visit to Beijing for the China Development Forum (CDF) to discuss ways to deepen cooperation.
China's National Development and Reform Commission (NDRC) said on March 24 that NDRC Chairman Zheng Shanjie met with Lee.
According to the commission, Lee and Zheng exchanged views on China's macroeconomic conditions, the outline of the 15th Five-Year Plan (2026–2030), China's further opening-up, and Samsung's operations in the country.
"The NDRC welcomes Samsung seizing the opportunities presented by China's continued expansion of opening-up, strengthening its confidence and resolve regarding development in China, and further expanding investment cooperation with China," Zheng said. "We welcome active efforts to safeguard the stability of the global semiconductor industry chain and supply chain and to achieve mutual benefit and win-win outcomes."
"China will continue to expand high-level opening-up, continuously improve the business environment, and fully guarantee national treatment for foreign-invested enterprises," Zheng added. "We will create a policy environment with transparent rules and equal opportunities for foreign-invested enterprises and share the dividends of development with all countries."
Zheng also noted that "the current international environment is complex and volatile, the international economic and trade order has suffered serious damage, and instability and uncertainty are increasing." He stressed that "China's economy has a stable foundation, many advantages, strong resilience, and great potential. The supporting conditions and fundamental trend of long-term positive development remain unchanged."
Zheng was also reported to have briefed Lee on the 15th Five-Year Plan confirmed at the Two Sessions — the National People's Congress and the Chinese People's Political Consultative Conference — held earlier this month. "We are confident that we will respond to various uncertainties with the certainty of high-quality development amid international competition and write a new chapter in the two miracles of rapid economic growth and long-term social stability," he said.
In response, Lee expressed gratitude for the NDRC's support for Samsung's production and operations in China, according to the commission. "China is an important part of Samsung's global strategy. Samsung views the new opportunities brought by China's high-quality development positively and looks forward to deepening cooperation," Lee said, the NDRC reported.