Several foreign CEOs are set to travel to Beijing for a key development conference this month, where some may have the opportunity to meet with President Xi Jinping. The annual China Development Forum is scheduled for March 23-24 at the Diaoyutai State Guesthouse, according to insiders familiar with the agenda. Amid rising geopolitical tensions, Beijing is eager to attract foreign investment, particularly as it seeks to boost domestic consumption in response to new U.S. tariffs.
Notable attendees include CEOs from major companies like FedEx, Siemens, BMW, Mercedes-Benz, Qualcomm, AstraZeneca, Nestle, and Citadel, among others. A spokesperson from Mercedes-Benz confirmed the attendance of CEO Ola Kallenius, while AstraZeneca did not confirm the attendance of their CEO. The presence of European CEOs appears to be more pronounced this year compared to previous editions of the forum.
BMW’s China chief Sean Green is expected to clarify the company’s commitment to the Chinese market during the gathering. However, many other firms have not provided comments regarding their participation. On March 28, President Xi is anticipated to hold a separate meeting with a select group of foreign CEOs, although the details and final list of attendees are still uncertain.
Recent developments, including U.S. tariffs on Chinese exports, have contributed to a 13.4% year-on-year decline in foreign direct investment into China as of January. American CEOs are likely to have a subdued presence this year, given increased scrutiny of U.S. investments in China. Prominent chip manufacturers such as Broadcom and Synopsys will send their CEOs, although several major American firms facing investigations by Chinese authorities will not be represented at the conference.
Chinese Premier Li Qiang is not expected to engage with foreign CEOs this year, marking a continuation of a trend from the previous year. Analysts suggest that although China aims to showcase interest in foreign businesses, meaningful dialogue remains elusive. Domestic participants in the forum include CEOs from emerging tech firms like Unitree Robotics and RedNote, who recently gained attention in the U.S.
This year’s agenda includes discussions focused on China’s medical sector and strategies for enhancing domestic consumption, reflecting the government’s commitment to counterbalance the effects of U.S. tariffs as it seeks to maintain an economic growth target of around 5% for 2025, despite ongoing challenges.