China to Host Global CEOs in Beijing Amid Economic and Trade Discussions

China is set to welcome top executives from major global companies to Beijing next week for the annual China Development Forum (CDF), with some CEOs expected to meet President Xi Jinping on March 28, according to sources familiar with the matter, Bloomberg reports.

Among the executives attending the event are Qualcomm Inc.’s Cristiano Amon and Saudi Aramco’s Amin Nasser. Other prominent business leaders, such as Blackstone Inc.’s Steve Schwarzman, Pfizer Inc.’s Albert Bourla, and FedEx Corp.’s Rajesh Subramaniam, are also expected to participate. The CDF will take place from March 23-24, bringing together corporate leaders and policymakers for high-level discussions on China’s economic outlook.

While the details of the meeting with President Xi are subject to change, the planned interaction underscores China’s message that it remains open for business. Beijing has been actively engaging with private enterprise leaders, as seen in Xi’s recent meeting with Alibaba Group Holding Ltd. co-founder Jack Ma and other entrepreneurs.

The forum comes at a time of increasing economic tensions between the US and China, with trade disputes and tariffs continuing to be a point of contention. Republican Senator Steve Daines, a member of the Foreign Relations Committee, is also scheduled to meet with a senior Chinese official and US business representatives during his visit to China. He has stated that he plans to raise concerns over fentanyl exports to the US, an issue cited by former President Donald Trump as a justification for tariffs on Chinese goods.

China has been working to reverse foreign investment outflows and counteract economic slowdowns. With a growth target of about 5% for this year, Beijing is keen to attract foreign investment, despite ongoing challenges such as US-China tariff disputes and global economic uncertainty.

Following the China Development Forum, many executives will also attend the Boao Forum for Asia, held from March 25-28 in Hainan province. Additionally, the HSBC Global Investment Summit in Hong Kong will run from March 25-27, signaling a series of key events aimed at strengthening China’s global economic ties.

Last year, a small group of American business leaders met President Xi in a 90-minute session, where he reassured them that China does not seek economic decoupling from the US and encouraged further US investment in China. Before the pandemic, such meetings with international executives were more common, particularly at forums like Boao.