Some US executives in Beijing for a business summit are rejigging their long-planned schedules after receiving an invite to a Wednesday meeting with a top Chinese leader – widely expected to be President Xi Jinping.
There’s a tacit understanding that the meeting will be with Xi, though his name doesn’t appear on written invitations, according to three people familiar with the matter, who asked not to be identified discussing confidential matters. A similar procedure was followed in November, when Xi attended a dinner with US business leaders during a San Francisco summit.
Chief executives including Pfizer Inc.’s Albert Bourla, FedEx Corp.’s Raj Subramaniam and Milind Pant of Amway Corp. are in town for the China Development Forum, which ended on Monday. Some potential attendees of the Wednesday meeting would need to extend their stay, and at least two who received invitations are unable to attend due to previous commitments, according to one of the people familiar with the matter. The people didn’t say which US executives have been invited.
China is seeking to shore up confidence amid a slowdown in foreign investment, which slumped to a 30-year low last year by one measure. Sentiment has been hit by political tensions with the US, following years of pandemic restrictions and tighter national security controls.
Read More: China’s Inbound Investment Slows Again Despite Beijing’s Efforts
Late on Friday, China relaxed its rules governing cross-border data flows. The move was seen as a response to complaints by foreign businesses that the restrictions were disruptive.
“The Chinese government encourages and supports the business community and other sectors in China and the US to conduct friendly exchanges and cooperation,” said Chinese Foreign Ministry Spokesman Lin Jian during a regular press briefing in Beijing on Tuesday, adding he had no information to offer on the specific meeting.
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