Xi Jinping Plans Large Chinese CEO Delegation For Trump Summit In Washington

Chinese President Xi Jinping is preparing to bring a large delegation of Chinese corporate executives to Washington for his September 24 summit with US President Donald Trump, two sources familiar with the discussions said, in an unusual move as Chinese companies face growing scrutiny over their US investments.

Xi rarely travels abroad with corporate executives, many of whom fell out of favour after Beijing’s regulatory crackdowns on the technology, education and property sectors began in 2020. One source familiar with the discussions said the move is aimed in part at signalling China’s willingness to support investment and commercial ties with the US, while offering the White House some potential economic wins ahead of the midterm elections.

The White House said it was not aware of such a delegation. "The White House is not tracking a Chinese CEO delegation," a US official said, without explaining what the administration meant by "tracking".

The delegation for the September 24 summit has not previously been reported. Reuters could not determine which Chinese executives would join the delegation.

A Different Approach To Business Engagement

Xi’s last major business delegation to the United States was in 2015, when he travelled with Alibaba founder Jack Ma, Tencent founder Pony Ma and executives from Chinese banks and state-owned companies.

During that visit, China signed a $38 billion agreement for 300 Boeing aircraft. Xi also met US technology leaders including Apple CEO Tim Cook, Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos.

By contrast, Trump has travelled to China with large delegations of American executives, including during visits in 2017 and May this year, seeking greater access to Chinese markets.

The May delegation included 18 US executives, among them Nvidia CEO Jensen Huang and Elon Musk, according to sources.

Scott Kennedy, a Chinese business expert at the Center for Strategic and International Studies, said the Chinese delegation could be organised with a more deliberate role for participating executives.

"My sense ​is that the Chinese... are going to be more intentional about the role of these business people in having them join the delegation," Kennedy said.

The participation of executives could prove "really valuable," he said.

Kennedy contrasted this with the US delegation that travelled to China in May, saying it had been assembled at short notice and that its executives were "more wallflowers ⁠than serious participants."

US Investment Barriers Remain

Chinese companies have faced increasing scrutiny over their US investments and business operations in recent years.

Washington has imposed a 100% tariff on imported Chinese electric vehicles and banned foreign drone, router and robot imports. The US has also forced the divestiture of TikTok’s US operations.

Major Chinese technology firms have been placed on the US Entity List, which includes firms and organisations deemed a threat to national security, and on a Pentagon blacklist.

Three sources briefed on the matter said the Board of Investment was unlikely to produce significant deliverables at the summit because of the challenging US environment for Chinese investment.

Expectations for the summit remain modest, with limited prospects for major breakthroughs, the sources said.

Trade Deliverables Still Under Discussion

The two countries established formal mechanisms in May to manage trade and investment ties. But Beijing and Washington remain divided over which products should be classified as "non-sensitive" under the Board of Trade, according to three sources.

About 10 categories of "non-sensitive" goods are being discussed for possible inclusion, although one source said the list could change before the summit.

Reaching an agreement on the Board of Trade is one of Washington’s main priorities for the meeting, alongside securing additional rare earth export licences for US companies, the sources said.

According to Reuters, a US official said the administration was continuing to press Chinese counterparts to address China’s lack of compliance with the agreement announced in Busan in October. That agreement established a one-year trade truce that paused some export controls and tariffs, while also covering other bilateral concerns.

Beijing has sought further tariff relief. China’s commerce ministry said in July that the two sides were exploring reciprocal tariff reductions covering $30 billion worth of products.

The US Supreme Court struck down in February tariffs on Chinese goods imposed under the International Emergency Economic Powers Act. Washington subsequently introduced a 10% global import tariff.

US Trade Representative Jamieson Greer said on Thursday that the two countries would make "some announcements on agriculture and non-tariff barriers" during the summit, without giving further details.

US-China Talks Ahead Of Xi-Trump Meeting

Treasury Secretary Scott Bessent, Greer and Chinese Vice Premier He Lifeng will meet in early September to discuss potential summit deliverables, four sources told Reuters.

Reuters could not determine the exact date or location of those discussions.

The US Treasury declined to comment on the planned meeting. The Office of the US Trade Representative and the State Department did not respond to Reuters’ requests for comment. China’s commerce ministry also did not immediately respond.

China’s foreign ministry said the two countries remain in communication regarding planned interactions between their leaders this year, but did not elaborate.