Xi Jinping to Meet with U.S. CEOs at China Development Forum Amid Tensions

WSJ, President Xi is expected to meet U.S. business leaders who will visit “China Development Forum (CDF)”
This is seen as President Xi’s direct expression of China’s intention to open up to the outside world, even amid U.S.-China tensions

Chinese President Xi Jinping. Xinhua Yonhap News

Chinese President Xi Jinping is expected to meet with U.S. business leaders following the high-level China  Development Forum (CDF) held in Beijing on the 24th and 25th. This move is interpreted as an attempt by China’s top leader to express his intention to open up to the world, even amid ongoing tensions with the U.S.

The Wall Street Journal (WSJ) reported on the 21st (local time) that Xi will meet with U.S. figures such as Evan Greenberg, CEO of insurance company Chubb, Stephen Orlins, President of the National Committee on U.S.-China Relations, and Craig Allen, President of the U.S.-China Business Council, in Beijing on the 27th. This meeting is a follow-up to a banquet hosted by the National Committee on U.S.-China Relations and the U.S.-China Business Council when Xi visited the U.S. to attend the Asia-Pacific Economic Cooperation (APEC) summit held in San Francisco last November. The WSJ reported that the forum’s agenda includes China’s economic growth, artificial intelligence (A.I.), and climate change.

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This year’s forum is being held as China faces an economic downturn, a slowdown in consumption, and a decrease in private investment. Especially as U.S. containment of China continues and China’s economy struggles to find a breakthrough, the forum’s purpose is interpreted as President Xi’s direct expression of China’s intention to open up to the outside world to U.S. business figures.

The WSJ explained that executives who did not attend last year plan to participate in this year’s event. Among the 85 top business figures from various countries, 34 are from multinational companies based in the U.S., it said, including Apple’s Tim Cook, Blackstone’s Stephen Schwarzman, hedge fund Citadel’s Ken Griffin, and HSBC’s Noel Quinn. The WSJ also introduced Sanjay Mehrotra of U.S. semiconductor company Micron Technology, Lisa Su of AMD, and Darren Woods of energy company Exxon Mobil as expected attendees.

However, the WSJ noted, “The list of attendees has not been finalized, and the meeting could be canceled at the last minute,” adding, “The Chinese State Council did not respond to a request for comment.”