General Electric (GE, GE.NYSE) CEO Jeffrey Immelt attempted to mitigate a widely-publicized remark in which he criticized the Chinese business environment, the Financial Times reported. Immelt said in late June, "I really worry about China. I am not sure that in the end they want any of us to win, or any of us to be successful." On Tuesday Immelt clarified that "China is a very important market for GE. It’s one that we do quite well in. It’s one that we’re committed to for the long term. Trade is always going to be challenging on all sides and in many countries. That’s what I was reflecting on." Immelt’s previous comments were met with sharp rebuke by some, but drew praise from those who feel that China’s regulatory environment is taking a protectionist turn.
Categories