Chinese President Xi Jinping told top US business executives accompanying President Donald Trump on a state visit that China’s market would “open wider,” signalling a renewed push to attract foreign investment even as tensions over technology and trade persist.
The remarks, reported by state-backed news agency Xinhua, came during meetings in Beijing attended by some of Silicon Valley’s most influential figures, including Elon Musk, Tim Cook and Jensen Huang, who travelled with Trump as part of a high-level US delegation.
Xi said US companies had been deeply involved in China’s reform and opening-up process and that both sides had benefited from economic cooperation over decades.
“China’s door will only open wider,” Xi said, according to Xinhua, adding that Beijing welcomed greater cooperation with American firms and believed they would continue to find expanding opportunities in the Chinese market.
The Chinese leader’s comments were delivered at a time of cautious optimism in bilateral economic relations, but also ongoing friction over advanced technologies, export controls and supply chain security.
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Trump introduced several senior executives to Xi during the visit, underscoring the importance of business diplomacy alongside formal state talks, according to Chinese state media.
The White House, in a statement posted on social media platform X, said both sides had discussed ways to strengthen economic cooperation, including expanding market access for American companies in China and increasing Chinese investment in the United States.
“The two sides discussed ways to enhance economic cooperation between countries, including expanding market access for American businesses into China and increasing Chinese investment,” the White House said.
The meeting brought together leaders from major technology firms including Tesla, Apple and Nvidia, all of which have significant exposure to the Chinese market or supply chain.
Xi’s outreach to global business leaders comes as Beijing seeks to stabilise foreign investor sentiment amid slower economic growth and intensifying technological rivalry with Washington.
George Chen, a partner and co-chair of digital practice at The Asia Group, said Xi’s message was aimed at reinforcing China’s appeal as an investment destination.
“This is a strong statement to world companies to continue to invest in China,” Chen told CNBC. “I think the statement Xi made about opening up is not just for propaganda. China does need to remain attractive for foreign investments.”
The meeting also took place against the backdrop of evolving US export controls on advanced semiconductors, a key flashpoint in the technology competition between the two powers.
Earlier reports indicated that Washington had approved limited sales of Nvidia’s H200 chips to Chinese customers, though US officials offered mixed signals on the policy direction. US Treasury Secretary Scott Bessent said he was not aware of the approval when asked, describing the issue as a matter for the Commerce Department.
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China, meanwhile, has accelerated efforts to strengthen its domestic semiconductor industry and reduce reliance on US technology, encouraging local firms to adopt homegrown alternatives.
Despite restrictions, Chinese artificial intelligence firms, including those backed by large technology groups such as Alibaba, have continued to develop competitive models, narrowing the gap with US counterparts.
Jensen Huang, who was a late addition to the China trip, described the Beijing meetings as highly significant, while avoiding direct comment on chip export decisions.
“Today’s morning ceremony was very uplifting. President Xi was very inspiring, very welcoming, and President Trump was very inspiring and very welcoming,” Huang said.
He added that discussions between Washington and Beijing included the possibility of developing safety frameworks for artificial intelligence, aimed at preventing misuse of advanced models by non-state actors.
The visit highlights the complex interplay between economic cooperation and strategic rivalry as both countries compete for leadership in emerging technologies, particularly artificial intelligence, while remaining deeply interdependent in trade and investment.
For Beijing, the message of continued openness is intended to reassure global corporations amid uncertainty over regulation and geopolitics. For Washington-based executives, the trip underscores both the opportunities and constraints of operating in the world’s second-largest economy.
As Xi extended an invitation for deeper engagement, the underlying challenge remains whether political tensions between the two superpowers will allow business ties to expand as smoothly as both sides suggest.
