Chinese President Xi Jinping told a group of U.S. business leaders, including Tesla CEO Elon Musk and Apple CEO Tim Cook that China's market will "only open wider and wider" as part of President Donald Trump's visit to Beijing.
The business delegation included executives from major U.S. companies with large stakes in China, including Tesla, Apple, Boeing, GE Aerospace, BlackRock, Blackstone, Micron, Mastercard, Qualcomm, Visa, Cargill, Coherent and Illumina.
Xi reportedly told the executives that U.S. companies have been part of China's development and would continue to find opportunities in the country. "China's door will only open wider and wider," Xi said. He also said American businesses would have "broader prospects" in China.
Treasury Secretary Scott Bessent told CNBC that he expected a large Boeing order during the visit and said the discussions also included energy, agriculture and Chinese investment in non-sensitive U.S. sectors. There was later an announcement of a request for 200 planes. Tesla operates a large factory in Shanghai and sells vehicles in the Chinese market. Apple relies on China for manufacturing and sales.
According to multiple reports, Nvidia, represented by CEO Jensen Huang, has been affected by U.S. export controls on advanced chips sold to China. Xi also reportedly warned Trump that Taiwan remains the most sensitive issue in U.S.-China relations and said mishandling it could create an "extremely dangerous situation."
The Washington Post also reported that Xi raised Taiwan during the summit as Trump sought progress on trade and other global issues. Trump's visit comes after months of tensions over tariffs, technology restrictions, rare earth minerals, and market access. Reuters reported that Washington and Beijing were expected to use the trip to announce mechanisms meant to support trade and investment, while also discussing major purchases from U.S. companies.
Bessent also said U.S. and Chinese officials had discussed creating two new bodies: a "Board of Trade" to manage bilateral trade and a separate "Board of Investment" for investment in non-sensitive areas.
He added hat Beijing had discussed buying more U.S. supplies and called production from Alaska a "natural" fit for China. The White House said Xi expressed interest in buying more U.S. oil to reduce China's dependence on the Strait of Hormuz, though Reuters noted that Chinese state media summaries did not mention energy purchases.
On agriculture, Bessent said soybeans were "all taken care of," cooling expectations for a fresh buying announcement. China had already committed to import 25 million metric tons of U.S. soybeans annually through 2028.
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