Aramco, Qualcomm, And Other Major CEOs Expected To Meet President Xi Jinping In Beijing Next Week: Report

The China Development Forum, scheduled for March 23-24, is expected to host key figures such as Blackstone Inc.’s Steve Schwarzman, Pfizer Inc.’s Albert Bourla, and FedEx Corp.’s Rajesh Subramaniam.

The Chinese government has been working to counteract capital outflows and address economic challenges, particularly as it aimed for an annual economic growth target of approximately 5 per cent.

Source : China Embassy

Several high-profile chief executives, including Qualcomm Inc.’s Cristiano Amon and Saudi Aramco’s Amin Nasser, will reportedly be visiting Beijing for an annual gathering of global business leaders.

Citing sources familiar with the matter, Bloomberg reported that discussions were underway for some of these executives to hold a meeting with President Xi Jinping on March 28. The specifics of the meeting, however, remained subject to potential revisions.

The China Development Forum, scheduled for March 23-24, is expected to host prominent figures such as Blackstone Inc.’s Steve Schwarzman, Pfizer Inc.’s Albert Bourla, and FedEx Corp.’s Rajesh Subramaniam. These individuals have previously attended the event and are anticipated to return this year.

In a parallel development, US Republican Senator Steve Daines, who serves on the Foreign Relations Committee, is expected to engage in discussions with senior Chinese officials and American business representatives during his visit on Saturday, the report said citing sources.

Daines publicly stated that one of his key discussion points would be "the flow of deadly fentanyl into our country," an issue that prompted President Donald Trump to justify trade tariffs on China.

China Trying To Boost Economic Growth

Reports indicated that China’s initiative to host global business leaders is a deliberate effort to reinforce its stance as an open economy, setting itself apart from Trump’s protectionist trade policies.

Beijing has also been seeking to project itself as a champion of private enterprise, evident from Xi’s previous meeting with prominent entrepreneurs, including Alibaba Group Holding Ltd.’s co-founder Jack Ma.

The Chinese government has been working to counteract capital outflows and address economic challenges, particularly as it aimed for an annual economic growth target of approximately 5 per cent. The possibility of additional US tariffs pose a risk to this goal, potentially forcing authorities to resort to large-scale economic stimulus measures.

Meanwhile, China’s response to US-imposed tariffs saw retaliatory duties come into effect on various American goods, including beef, poultry, and grains. Despite high-level discussions, both sides struggled to find common ground, as US officials claimed China did not provide clear commitments regarding fentanyl-related measures, while Beijing asserted that Washington has not outlined specific expectations.

Established in 2000 under the guidance of then-Premier Zhu Rongji, the China Development Forum serves as a crucial platform for economic dialogue between Chinese policymakers and international business leaders. Additionally, some executives also plan to attend the Boao Forum for Asia in Hainan from March 25-28, along with the HSBC Global Investment Summit in Hong Kong, set for March 25-27.

Last year, a small group of American executives met Xi in an extended session lasting over 90 minutes. Attendees reportedly engaged in direct discussions with him, during which the Chinese leader reaffirmed his position that he didn’t see the need for Washington and Beijing to decouple and encouraged continued US investment in China. Before the pandemic, Xi frequently engaged with business leaders at events such as the Boao Forum, fostering dialogue on economic cooperation and foreign investment.