[ad_1]
Apple CEO Tim Cook and Tesla CEO Elon Musk are some of the high-profile names expected to attend a dinner hosted for US President Joe Biden and Chinese President Xi Jinping in San Francisco. The dinner, hosted by the National Committee on US-China Relations and the US-China Business Council, takes place during the 30th Asia-Pacific Economic Cooperation (APEC) summit on Wednesday.
The forum is expected to be attended by hundreds of business leaders from various sectors such as banking and technology, while President Xi may also deliver a speech, CBS News reported.
According to a Bloomberg report, top business leaders attending the dinner include Tim Cook, Elon Musk, BlackRock CEO Larry Fink, Blackstone CEO Steve Schwarzman and Visa CEO Ryan McInerney.
Other tech leaders expected to attend include Qualcomm CEO Cristiano Amon and Broadcom CEO Hock Tan, the Bloomberg report said, citing sources.
Details of the dinner have been scarce, with the hosts providing little clarity on the Chinese leaders attending and the location of the event. However, some of Xi Jinping’s ‘old friends’ from Iowa have reportedly been invited to the high-profile event.
The dinner with business leaders will give the Chinese president an opportunity to boost declining US investment in his country. Meanwhile, it will also be a chance for top entrepreneurs to rub shoulders with the leader of the world’s second-largest economy.
China is a key market for many top US companies, including Apple, which derives around a fifth of its revenue from China and manufactures a range of devices in the country. However, amid rising tensions between Washington and Beijing, the Cupertino-based tech giant has been caught in a bind with the Chinese government blocking the use of iPhones and other foreign technology in state-backed companies. Competition from home-grown Huawei has also led to a recent slowdown in Apple’s sales in China.
(With inputs from Bloomberg)
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Updated: 16 Nov 2023, 07:37 AM IST
[ad_2]
Source link
