Major foreign business leaders are set to gather at the annual China Development Forum, scheduled for March 23-24 at the Diaoyutai State Guesthouse, Beijing. This flagship event aims to attract foreign investment as China’s economic climate is taut with geopolitical tensions and pressures stemming from U.S. tariffs.
Notable attendees at the forum include prominent heads from companies such as Qualcomm, FedEx, Siemens, BMW, and Saudi Aramco, as well as the CEO of Mercedes-Benz, Ola Kallenius. The invitations extend to other major firms, indicating Beijing's desire to engage with international business amid heightened scrutiny from American authorities concerning foreign investments.
The U.S. has recently imposed 20% tariffs on Chinese exports, forcing China to respond with additional tariffs on American agricultural products, increasing the stakes for American companies remaining engaged within China. Although foreign direct investment has seen a downturn—dropping by 13.4% year-on-year as of January 2025—China continues to attract significant international attention.
This year, the number of European CEOs attending has increased compared to previous forums, reflecting perhaps both opportunity and optimism amid foreign relations marked by tension.
Despite the enthusiasm, this year’s attendance may not be as expansive for American firms. Sources indicate there may be diminished representation from U.S. CEOs owing to the tense geopolitical atmosphere. Companies facing current investigations or scrutiny by Chinese authorities, such as Google and Walmart, are noted to be absent from the draft agenda.
"Any trip to China by American CEOs would be very low-key… fewer U.S. CEOs would attend this year," stated one source familiar with the matter, reflecting the cautious approach businesses may adopt amid economic uncertainty.
Not all American firms are backing away entirely. Firms such as Micron and AMD are still participating, with Micron’s CFO, Mark Murphy, confirmed to attend the forum.
According to reports from Reuters, Xi Jinping, the President of China, is anticipated to engage with select foreign CEOs following the forum on March 28, 2025, marking potential historic interactions between American heavies and Chinese leadership as engagement from both nations wanes.
The agenda also features significant discussions around China’s efforts to boost domestic consumption, which has been prioritized by policymakers this year. Amid rigorous pressures from U.S. economic tactics, Beijing’s leadership recognizes the need to stimulate domestic growth to maintain its economic health, with targets aimed at achieving around 5% growth for 2025.
Retail data supports this narrative; official statistics reveal January and February sales grew by 4.0%, the fastest pace since November 2024, signaling some recovery and resilience.
The Chinese government, underscoring the importance of rejuvenated consumer behavior, has unveiled plans such as establishing childcare subsidy schemes as part of broader economic reforms intended to motivate domestic purchases.
At the forum, various seminars will discuss the development of China’s healthcare sector, highlighting the shift outlined by Chinese officials to prioritize consumer demand from the demand side rather than merely increasing supply.
Business leaders attending this year will also include domestic tech firms as China's tech sector continues to seek stabilization from both government support and consumer engagement. For example, Wang Xingxing from Unitree Robotics and Miranda Qu from RedNote will be present, signifying the unity within the tech space amid international scrutiny.
Chinese Premier Li Qiang, on the other hand, is reportedly not expected to meet with foreign CEOs this year, missing yet another opportunity for high-profile interactions.
Joerg Wuttke, partner at DGA Group and former president of the European Chamber of Commerce in China, commented on the atmosphere, stating, "It would be nice if Xi has a new message of real openness. The question is whether he will do this. We've coined this phrase 'promise fatigue' within the European business community, indicating frustration over stagnant dialogue and engagement.
With dwindling high-level meetings since the Trump administration's onset, the forum stands as one of the few opportunities for meaningful engagement and potential future collaborations between international corporations and Chinese policymakers.
The anticipation surrounding this year’s forum not only signifies the fundamental shifts within global business dynamics but also reflects the strong desire from both sides to navigate this increasingly complex economic relationship.
China is ready to showcase its resilience and adaptability, eager to convey messages of stability and growth opportunity to foreign investment leaders amid turbulent international waters.
The China Development Forum encapsulates significant potential for dialogue as leaders across the globe bear witness to the evolution of business exchanges and cooperation strategies aimed to pivot global economic pathways amid rising challenges and tensions.
