China’s Vice-Commerce Minister meets with LVS CEO, welcomes foreign investment

China’s Vice-Commerce Minister Wang Shouwen extended an invitation to foreign businesses to partake in the country’s economic growth, after a meeting with Robert Goldstein, chairman and CEO of Las Vegas Sands Corp.

According to Xinhua, in a meeting held on January 8th, Wang highlighted the potential for collaboration with the United States as the incoming Trump administration prepares to take office on January 20th.

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During their discussion, which covered a range of topics including the state of China-US trade relations and Las Vegas Sands’ expansion plans in China, Wang reaffirmed the government’s commitment to enhancing the institutional framework for foreign investment.

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“We encourage foreign businesses, including Las Vegas Sands Corp, to seize the opportunities present in our market,” he stated.

LVS owns and operates Sands China, one of the six gaming operators authorized to operate in Macau, the only Chinese city where gaming is legal.

The gaming group previously had to navigate tense geopolitical tensions between the first Trump administration and the Chinese government, with the group’s late founder Sheldon Adelson and his wife known as the largest private donors to Trump’s electoral campaigns.

A recent report by Deutsche Bank, argued that geopolitical concerns, including US-China relations in the new Trump administration, would have little impact on the Macau gaming sector.

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The Xinhua report stated that Goldstein echoed these sentiments, noting that the cooperation between the world’s two largest economies could yield benefits not just for China and the US, but for the global economy as a whole.

He expressed Las Vegas Sands’ intention to increase its investment in China, aiming for mutually beneficial outcomes.

This meeting aligns with the goals set forth during the third plenary session of the 20th Communist Party of China Central Committee, which laid out comprehensive plans for a high-standard opening up of the Chinese economy.

The Financial Times recently reported that China’s President Xi Jinping will send a high-level envoy to Donald Trump’s inauguration, in an unprecedented move designed to reduce friction between the countries at the start of the new US administration.