Tech heavyweights from the U.S. are poised to meet Chinese President Xi Jinping at the U.S.-hosted Asia-Pacific Economic Cooperation (APEC) summit in San Francisco.
What Happened: This is the first APEC meeting hosted by the U.S. in over a decade. Business executives are eager to strengthen their professional relationships with China at the summit, reported Business Insider.
An invitation to dine with President Xi is highly coveted among attendees. The guest list includes CEOs such as Satya Nadella of Microsoft Corp. MSFT, Jane Fraser of Citigroup Inc. C, and Elon Musk of Tesla Inc. TSLA.
Reuters indicates that the dinner is scheduled for Wednesday, even though it’s not officially listed on the APEC program. Musk will participate in an AI discussion with Salesforce.com Inc. CRM CEO Marc Benioff the following day.
Why It Matters: Despite the tense U.S.-China relationship, strained by chip rivalries and geopolitical issues, many U.S. businesses, including tech giants like Apple Inc. AAPL, heavily rely on China for manufacturing and consumers.
This meeting will be a significant event, marking President Xi Jinping’s first visit to the US in six years and his first face-to-face meeting with U.S. President Joe Biden since their meeting in Bali last year. The summit is expected to facilitate in-depth communication on strategic, overarching, and fundamental issues shaping China-U.S. relations and major concerns surrounding world peace and development.
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