Unlike various other American car-makers, Tesla does not have factories in China. Xi didn’t provide any clarity on whether foreign automakers could be able to set up manufacturing facilities without Chinese joint venture partners entirely, although since Beijing wants to dominate EV technology in addition to develop its own EV supply chain, some in China’s auto industry have speculated of which Tesla could receive favorable treatment.
Elsewhere, J.P. Morgan in addition to BlackRock are both looking to expand their asset management businesses in China, said Peter Alexander, founder of Z-Ben Advisors. “Among U.S. managers, the likes of JPM, Blackrock in addition to Invesco are currently the best positioned. They’ve been strategically adept — more than others — in addition to have multiple platforms to access the China market,” he said.
Met Life has its toe within the Chinese market in addition to could also benefit, said Sam Radwan, CEO of ENHANCE International. He added of which the life insurance industry could likely see improvements first.