Global CEOs To Meet Chinese President Xi Jinping At Annual Forum In Beijing

Several prominent global CEOs, including Qualcomm’s Cristiano Amon and Saudi Aramco’s Amin Nasser, are set to attend an upcoming China Development Forum (CDF) in Beijing, where they are expected to meet with top Chinese officials, including President Xi Jinping, sources familiar with the matter confirmed. The highly anticipated meeting is scheduled for March 28, although the plans remain subject to change, according to those speaking on condition of anonymity.

The CDF, running from March 23-24, will also feature high-profile attendees from previous years, including Blackstone Inc.’s Steve Schwarzman, Pfizer Inc.’s Albert Bourla, and FedEx Corp.’s Rajesh Subramaniam. These figures are expected to return this year for the forum, which serves as a platform for dialogue between Chinese leadership and global business leaders.

In addition to the corporate leaders, U.S. Senator Steve Daines, a Republican and member of the Foreign Relations Committee, is expected to meet with a senior Chinese leader and representatives of the U.S. business community during his visit on March 24. Daines, who has voiced concerns over the flow of fentanyl into the United States, stated on social media that he would raise the issue in his discussions. This follows previous comments made by former President Donald Trump, who linked tariffs on China to the drug trade.

This year’s forum highlights China’s ongoing efforts to emphasize its commitment to open business practices and private enterprise, particularly in contrast to the protectionist policies of the Trump administration. Xi’s government is keen to position China as a welcoming environment for foreign investment, a message reinforced by his high-profile meeting last month with notable entrepreneurs such as Alibaba co-founder Jack Ma.

With China facing economic challenges, including persistent weaknesses and outflows of foreign investment, Xi’s government aims for a 5% expansion in economic output this year. However, the continuation of tariffs imposed by the U.S. threatens this goal, potentially forcing Beijing to introduce large-scale stimulus measures, which it has so far avoided.

Last week, China’s retaliatory tariffs on a range of U.S. goods took effect, covering everything from beef and poultry to grains. High-level trade talks between the two nations remain at an impasse, with officials struggling to find common ground. Beijing has expressed frustration over the lack of detailed steps from the U.S. on how the tariffs could be lifted in exchange for action on fentanyl, an issue that continues to strain bilateral relations.

The CDF, which began in 2000 with the support of former Premier Zhu Rongji, has been a key forum for dialogue between China and the global business community. Some CEOs attending this year’s event are also expected to participate in the Boao Forum for Asia, which will take place in Hainan province from March 25-28. Additionally, the HSBC Global Investment Summit is set to occur in Hong Kong from March 25-27.

In a similar context last year, a select group of American business leaders had a spontaneous meeting with Xi, which lasted for more than 90 minutes. During the session, Xi emphasized that he saw no need for Washington and Beijing to decouple and reiterated his desire for U.S. businesses to continue investing in China. Before the pandemic, such gatherings were more frequent, with Xi meeting executives regularly at events like the Boao Forum.