On the afternoon of May 20, Yin Li, Secretary of the CPC Beijing Municipal Committee, met with Timothy Geithner, former U.S. Treasury Secretary and Chairman of Warburg Pincus.
Yin noted that China, as the world’s second-largest economy, is vigorously advancing Chinese modernization. With a population of 1.4 billion, the country represents a super-sized market with immense development potential. He emphasized that the Chinese and U.S. economies are deeply interconnected and highly complementary. A stable and sound economic and trade relationship between the two countries is of vital importance not only to their respective development, but also to the stability and growth of the global economy. As the capital of China, Beijing boasts abundant resources in education, science and technology, and talent, and is home to a large number of financial institutions. Currently, the city is accelerating the development of new quality productive forces and advancing high-quality economic development, thereby creating an enabling environment for global enterprises to invest and grow in Beijing. Yin expressed Beijing’s readiness to deepen investment cooperation with Warburg Pincus in areas such as finance, scientific and technological innovation, healthcare, urban renewal, and infrastructure development, with the aim of promoting broader exchanges and cooperation between China and the U.S. and achieving mutual benefits and win-win outcomes. He encouraged Warburg Pincus to expand its financial operations in Beijing and to attract more international capital to the city. He also called for increased investment in Beijing-based technology innovation enterprises, particularly in areas such as artificial intelligence, the digital economy, and the platform economy. In addition, Warburg Pincus was encouraged to have closer collaboration with Beijing’s medical institutions, research institutes, and pharmaceutical companies to scale up investment in innovative drugs, advanced therapies, and medical services. He welcomed Warburg Pincus to play an active role in Beijing’s urban renewal efforts by scaling up investments in relevant sectors and implementing more concrete collaborative projects.
Geithner reaffirmed his strong confidence in China’s long-term development and voiced optimism about the future of a stable and sound China-U.S. relationship. He emphasized that Beijing remains a popular destination for global investors. Warburg Pincus, he said, stands ready to deepen and expand cooperation with the city in areas such as finance, technological innovation, healthcare, and urban renewal, so as to seize the opportunities and achieve shared development in the years to come.
Beijing municipal leaders Xia Linmao and Zhao Lei attended the meeting.
