US executives meet Chinese regulators after Trump-Xi summit in Beijing

BEIJING: Senior executives from several major US companies held meetings with top Chinese officials in Beijing after the summit between United States President Donald Trump and Chinese President Xi Jinping, as firms sought to advance commercial interests in China.

According to official Chinese statements and state-backed media reports published on Friday and Saturday, the companies involved included GE Aerospace, Boeing, Qualcomm, Cargill, Visa, Goldman Sachs and Citigroup. Their executives met officials from key Chinese bodies including the commerce ministry, the state planner, the securities regulator and the central bank.

The executives were part of the business delegation that travelled with Trump to China. They stood behind members of Trump’s cabinet on Thursday morning when they were introduced to Xi, and later attended a state banquet where they interacted with Chinese officials and business figures.

Analysts said the meetings reflected an effort by US companies to use the positive atmosphere created by the Trump-Xi engagement to push for regulatory clearances, commercial agreements and progress on longstanding business issues in China. “The summit served as a crucial window for attending US CEOs to reinforce corporate diplomacy and directly position their strategic asks with top Chinese authorities,” said Alfredo Montufar-Helu, a Beijing-based managing director at Ankura China Advisers.

Meetings with Chinese officials

State-backed media reported on Saturday that Citigroup chief executive Jane Fraser met both Beijing Party Secretary Yin Li and Wu Qing, chairman of the China Securities Regulatory Commission.

According to the Beijing Youth Daily, Yin said China welcomed Citigroup’s plans to further expand in the country and help bring in more international companies and investment. The CSRC said Wu and Fraser exchanged views on the global economic and financial environment as well as the opening of China’s capital markets.

Citi has been trying to strengthen its onshore capital markets business in China after leaving a joint venture. It applied in 2023 to establish a wholly owned securities brokerage, but that application is still awaiting regulatory approval.

Separately, the State Administration of Foreign Exchange said its director and a vice governor of the People’s Bank of China met Goldman Sachs chairman and chief executive David Solomon.

China’s Commerce Minister Wang Wentao also met Visa chief executive Ryan McInerney, Cargill chief executive Brian Sikes and Qualcomm chief executive Cristiano Amon, though official Chinese statements did not provide details of those discussions.

Nvidia chief executive Jensen Huang was also in Beijing and was seen walking in the city centre on Friday, trying local food and taking photographs with fans.

Aircraft and engine orders

After departing Beijing on Friday, Trump told reporters aboard Air Force One that China had agreed to purchase 200 Boeing aircraft and 400-450 GE Aerospace engines, adding that the total could eventually increase to as many as 750 planes.

If completed, the purchases would represent Boeing’s first major Chinese order in nearly a decade.

While Trump and Xi were meeting over tea at Xi’s Zhongnanhai residence, the chief executives of Boeing and GE Aerospace held talks with the heads of China’s National Development and Reform Commission. Analysts said those discussions were likely focused on securing a delivery schedule for the aircraft and engine orders.

The corporate outreach came as questions persisted over how far Trump’s approach could translate summit-level goodwill into broader market access and concrete gains for US firms in China.