China’s leader Xi Jinping met a group of US chief executives on Wednesday as American business leaders sought to mend ties frayed by geopolitical and trade tensions between the world’s two largest economies, reports the Financial Times. The gathering comes as concern is growing among China’s trading partners that Beijing is investing heavily in manufacturing to overcome a deep property slowdown, leading to oversupply and potential dumping in international markets.
State news agency Xinhua reported that the meeting was under way at the Great Hall of the People in Beijing and included a photo shoot with the Chinese president. The agency gave no further details.
The meeting was expected to include US chief executives who this week attended the China Development Forum, Beijing’s flagship annual business conference, according to people familiar with the matter. Participants in the forum included Chubb chief executive Evan Greenberg, Albert Bourla of Pfizer and Raj Subramaniam of FedEx.