San Francisco, California – Chinese President Xi Jinping addressed U.S. executives at an event hosted by the National Committee on US-China Relations and the US-China Business Council during the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week. Xi expressed optimism about the potential for improved bilateral relations between China and the United States, emphasizing the importance of collaboration in various sectors, including trade, agriculture, climate change, and artificial intelligence.

During the meeting, prominent figures such as Blackstone Chairman and CEO Stephen Schwarzman, Qualcomm President and CEO Cristiano Amon, and other notable attendees discussed the need for cooperation between the two nations to enhance economic ties and address shared concerns. The U.S.-China Business Council, in a press release, highlighted the importance of engaging with China to address issues such as trade, investment, and business confidence, while also emphasizing the importance of improving commercial exchange between the two countries.

Xi underscored the strength and sustainability of China’s economy, refuting predictions of a potential peak in the country’s economic growth. Key officials, including China’s foreign minister and top diplomat Wang Yi, were present at the meeting, showcasing the significance of the discussions in advancing bilateral relations.

The U.S.-China Business Council urged China to address longstanding issues related to cross-border data flows, intellectual property rights protection, and regulatory transparency. Xi reassured attendees of China’s commitment to reform and opening up, emphasizing the country’s efforts to create a favorable business environment for foreign businesses, including those from the U.S.

The meeting with U.S. business leaders marked a continuation of Xi’s engagement with American executives, following a previous gathering in San Francisco. The ongoing dialogue between the two countries reflects a new and evolving phase of bilateral business ties, with both sides aiming to uphold economic and market principles, deepen cooperation, and respect each other’s development rights.

As the discussions unfold, U.S. Treasury Secretary Janet Yellen plans to address concerns about Chinese manufacturing overcapacity during her upcoming trip to China. These efforts to navigate complex economic issues underscore the importance of sustained dialogue and cooperation between the world’s two largest economies.