China Schedules Global CEOs to Meet President Xi in Beijing Next Week

Global CEOs, including Qualcomm Inc.'s Cristiano Amon and Saudi Aramco's Amin Nasser, will travel to Beijing for an annual meeting of top executives with some expected to meet top leaders such as President Xi Jinping.

According to reports, the chief executives are planning to meet with Xi on March 28. They also stated that the details are subject to change.

Figures who have previously attended the China Development Forum, including Steve Schwarzman of Blackstone Inc., Albert Bourla of Pfizer Inc., and Rajesh Subramaniam of FedEx Corp., are expected to return this year, according to the sources. The event takes place from March 23 to 24.

Republican Senator Steve Daines, a member of the Foreign Relations Committee, is expected to meet with a senior Chinese leader and representatives from US businesses on Saturday, according to sources. Daines stated on social media that one of the issues he would raise is "the flow of deadly fentanyl into our country"—a problem that President Donald Trump has cited as a reason for imposing tariffs on the Asian nation. Daines visit and a potential meeting between Xi and the CEOs. 

China's planned interaction with top business figures underscores the message that the country is open for business, in contrast to Trump's more protectionist "America First" policies.

Beijing is also attempting to position itself as a supporter of private enterprise, as evidenced by Xi's high-profile meeting last month with entrepreneurs such as Alibaba Group Holding Ltd cofounder Jack Ma.

Xi aims to reverse foreign investment outflows and persistent economic weakness. His government's goal of increasing economic output by about 5% this year could be jeopardized by additional tariffs from Trump, levies that could force Beijing to unleash large-scale stimulus that it has so far avoided.

Last week, China imposed retaliatory tariffs on a variety of US goods, including beef, poultry, and grains. High-level talks between the two sides appear to have reached an impasse, with officials talking over each other and failing to agree on the best course of action.

Officials in Beijing have stated that the US has not specified the specific steps they expect China to take to remove the fentanyl tariffs. Trump's team disputes this, citing messages from the White House via diplomats in Washington.

The CDF was established in 2000 with the support of then-Premier Zhu Rongji and now serves as a forum for high-level dialogue between China and the rest of the world. Additionally, some of the CEOs are anticipated to attend the Boao Forum for Asia, which will be held from March 25 to 28 in the southern province of Hainan. The dates of the HSBC Global Investment Summit in Hong Kong are March 25–27.

A small group of American business leaders were invited at the last minute to meet with Xi last year. The meeting lasted more than 90 minutes, with delegates apparently asking questions and Xi responding. Xi previously stated that he does not see the need for Washington and Beijing to decouple and that he wants American businesses to invest in China.

Prior to the pandemic, Xi held more frequent meetings with executives at events like Boao.