Xi Jinping expected to speak at dinner for US business executives while in San Francisco for Apec

A “senior Chinese official and his ministerial delegation” plan to attend a dinner with members of the US business community on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in San Francisco, according to an invitation sent out by two organisations devoted to bilateral ties.

Bloomberg reported on Tuesday that Chinese President Xi Jinping was the headliner, citing sources familiar with the matter. The event is projected to draw a large crowd, including top CEOs from Apec-based companies, Bloomberg said.

Interested parties were prompted to respond quickly to the invitation, with organisers suggesting that tickets are in high demand. The event, on November 15, is co-sponsored by the Asia Society, Council on Foreign Relations and the US Chamber of Commerce.

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High on the list of Xi’s priorities during his US visit is calming foreign investors, who are increasingly nervous about doing business in China.

While Beijing hasn’t confirmed Xi’s attendance at the San Francisco summit, the White House has indicated a meeting between the leaders next week. The Chinese embassy in Washington did not immediately respond to a request for comment.

Washington has hosted numerous Chinese diplomats and high-ranking officials in the last few days, presumably to lay the groundwork for Xi’s visit and a dialogue with President Joe Biden. The nations have discussed topics such as climate cooperation, nuclear arms control and maritime concerns.

The US and China have engaged top officials to improve relations, with US Treasury Secretary Janet Yellen, Secretary of State Antony Blinken and Chinese foreign minister Wang Yi travelling for discussions in recent months.

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Chinese officials have also hosted prominent US CEOs including JPMorgan Chase’s Jamie Dimon, Tesla’s Elon Musk and Apple’s Tim Cook.

Biden and Xi last met at the G20 summit in Bali one year ago.

Also on Tuesday, delegations from both countries wrapped up their first nuclear arms control discussions since 2019. While talks did not yield immediate tangible outcomes, experts viewed the meeting as a positive step toward reopening communication channels.

Beijing has struggled to contain the outflow of foreign capital in recent months. China’s State Administration of Foreign Exchange on Friday reported a third-quarter outflow of US$11.8 billion in foreign direct investment, marking the first negative figure since the agency started tracking the data in 1998.