Foreign CEOs to flock to China for key summit, Xi meeting, sources say

By Laurie Chen

BEIJING (Reuters) -Dozens of overseas CEOs volition sojourn Beijing this period for a flagship improvement league wherever immoderate are expected to conscionable President Xi Jinping, according to a draught docket and 3 sources acquainted with the matter.

The yearly China Development Forum volition instrumentality spot connected March 23-24 astatine Beijing's Diaoyutai State Guesthouse, 2 sources told Reuters.

Attendees see the CEOs of FedEx, Siemens, automakers BMW and Mercedes-Benz, spot decorator Qualcomm, AstraZeneca, Nestle, Saudi Aramco, Citadel, Rio Tinto, Deutsche Bank, McKinsey, Estee Lauder, Standard Chartered and KPMG, according to a draught docket seen by Reuters.

Top executives of respective large mining, engineering and healthcare firms volition besides instrumentality part, according to the draught agenda, which could beryllium taxable to last-minute changes, 1 of the sources said. Compared to erstwhile years, a higher proportionality of European CEOs are represented.

Xi is apt to conscionable a prime radical of overseas main executives days aft the summit, which could see European and British CEOs, said 1 source, adding that the timing and the database of attendees could inactive change.

Beijing is hopeless to pull overseas concern astatine a clip of heightened geopolitical tensions, arsenic policymakers effort to boost home depletion to offset caller U.S. tariff pressure.

U.S. President Donald Trump launched 20% tariffs connected Chinese exports this month, prompting China to retaliate with further duties connected American agriculture products.

Foreign nonstop concern into China fell 13.4% year-on-year successful January, according to authoritative information released past month.

"Any travel to China by American CEOs would beryllium precise low-key fixed the existent heightened scrutiny connected American concern successful China from Washington," said the source, adding that less U.S. CEOs would be this year.

The CEOs of American spot giants Micron and AMD are not listed connected the draught agenda, contempt having attended past year.

American firms taxable to existent investigations oregon scrutiny by Chinese authorities including Google, Illumina, PVH and Walmart besides bash not look connected the draught agenda.

Chinese Premier Li Qiang is not apt to conscionable with overseas CEOs this year, the root added, aft helium skipped a customary gathering past twelvemonth - 1 of the uncommon opportunities for overseas executives to person look clip with a apical Chinese official.

A Mercedes-Benz spokesperson confirmed to Reuters that CEO and Chairman Ola Kallenius would be the forum.

Notable home attendees listed connected the draught docket see CEO of Unitree Robotics Wang Xingxing and Qu Fang, the CEO of societal media app RedNote, which became a sensation successful America earlier this twelvemonth arsenic ByteDance-owned TikTok was connected the cusp of being banned by U.S. authorities.