Chinese President Xi Jinping is expected to be the guest of honor at a dinner event with prominent US business executives during his visit to San Francisco for the Asia-Pacific Economic Cooperation (APEC) summit next week, according to sources familiar with the matter. This gathering, organized by US business groups, will feature the participation of hundreds of individuals, including chief executive officers of major US companies.
The US and China have been actively working to strengthen their diplomatic ties this year. High-ranking officials from both nations, including US Treasury Secretary Janet Yellen, Secretary of State Antony Blinken, and Chinese Foreign Minister Wang Yi, have engaged in extensive discussions and meetings in recent months, laying the groundwork for an anticipated meeting between US President Joe Biden and Chinese President Xi Jinping at the APEC summit.
China has not officially announced Xi’s attendance at the APEC summit, but the White House has confirmed that the leaders of the world’s two largest economies will indeed meet. Wang Yi, in a statement last month, emphasized that the two nations cannot rely on “autopilot” to achieve a meeting, underlining the importance of proactive engagement.
US Secretary of State Blinken emphasized that both the United States and China acknowledge the significance of leader-level communication in managing their relationship. He stated this while attending a Group of Seven foreign ministers’ meeting in Japan, further highlighting the importance of constructive leader-level engagement.
Among the top priorities for Xi during his US visit is to address concerns among foreign investors. Recent surveys have indicated that western executives in China are becoming increasingly apprehensive about doing business in the country. This heightened anxiety can be attributed to a growing list of challenges, including geopolitical tensions, a slowing Chinese economy, and the detention of employees.
Prior to the APEC leaders’ meeting, a CEO summit is scheduled for November 14-16, featuring influential speakers such as Darren Woods, CEO of ExxonMobil, Albert Bourla, CEO of Pfizer, and Satya Nadella, Microsoft’s Chief Executive. Additionally, a gala reception is set to take place on November 15.
China’s State Council Information Office has not provided an immediate response to requests for comment regarding Xi’s participation in APEC and the dinner event.
The last meeting between President Biden and President Xi took place at the Group of 20 summit in Bali a year ago. However, efforts to improve bilateral relations were hindered when a suspected Chinese spy balloon flew over the United States. Both nations now have reasons to reduce turbulence in their relations: President Biden is seeking stability as he prepares for an election next year, while China aims to attract more foreign investment to reinvigorate its slowing economy.
In preparation for the leaders’ meeting at APEC, the two countries have intensified their discussions on various issues, including climate cooperation, nuclear arms control, and maritime matters. Secretary of Defense Lloyd Austin is seeking a meeting with his Chinese counterpart later this month, despite the vacancy in the Chinese position following the recent ousting of the previous minister, Li Shangfu.
The dinner event with US business leaders represents a significant step in the ongoing efforts to foster positive relations between the United States and China, addressing both diplomatic and economic concerns.
Sources By Agencies
