Elon Musk and Jane Fraser Are Just Some of the CEOs Hoping to Woo China’s Xi
Executives from Microsoft Corp., Citigroup Inc., Exxon Mobil Corp. and other large multinationals are converging on San Francisco this week for an audience with Chinese President Xi Jinping and other Asian leaders as long-frosty US-China relations show only tentative signs of warming.
For many corporations, the agenda is simple: They're ready to get back to business.
A CEO summit on the sidelines of the Asia-Pacific Economic Cooperation meeting will coincide with the most challenging trade climate in a generation. Washington is trying to prevent China from acquiring high-end computer chips and has imposed curbs on US investment there. Beijing has responded by jump-starting its own chip efforts and exhorting citizens to buy locally made phones and other products. From tech to logistics, oil and gas to finance, companies are struggling to maintain access to Chinese consumers even as they try to navigate a growing list of regulations, tariffs and export controls.
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Some of the biggest names in American business are scheduled to attend the summit, among them Citigroup's Jane Fraser, Exxon's Darren Woods, Microsoft's Satya Nadella and Tesla Inc. and SpaceX's Elon Musk. A number of executives have been invited to dine with Xi, according to people familiar with the plans, a chance for them to air their concerns and ambitions in a less formal setting.
“If Xi is going to meet these business leaders at this summit, they'll be looking for signals that the US-China relationship is thawing,” said Dan Prud'homme, an assistant professor of business at Florida International University.
Founded in 1989, APEC was created to promote free and fair trade as China began its historic economic opening under
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