Chinese President Xi Jinping dines with Tim Cook, Elon Musk and other top US business leaders

Apple CEO Tim Cook, Tesla Chief Elon Musk and Blackstone's Steve Schwarzman were among the guests at a gala dinner in San Francisco organised for Chinese President Xi Jinping. The event follows the day-long bilateral meet between the Chinese and the US Presidents.

Standing ovation to Xi Jinping

The event was hosted by the US-China Business Council and the National Committee on US-China Relations. As per Reuters, during the dinner, Xi got a standing ovation from America's corporate leaders, including Cook and Schwarzman. The report further mentioned that this enthusiastic reception from prominent figures in the business world indicates their support for the Chinese president. This could become significant if the political tensions escalate.

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During the dinner, US corporate leaders also had opportunities to engage with high-ranking ministers from China. The dinner hosted more than 300 executives and officials.

During his speech in the dinner, Xi reportedly emphasised on an enduring relationship between China and U.S. He even posed a question of wheather the US and China are adversaries or partners to the dinner guests. Xi then went on to emphasise that viewing each other as competitors could lead to misinformed policies and unwanted outcomes, asserting that Beijing was ready to be a partner and friend of the US.

“Whatever stage of development it may reach, China will never pursue hegemony or expansion, and will never impose its will on others …,” Xi said.

Several media reports noted that Xi's conciliatory tone was well-received by many attendees, who believe that increased engagement between the US and China could lead to improved bilateral relations.

However, the economic slowdown that China is facing currently has created a wave of doubt among many US companies about making substantial investments in China. The evolving economic competition and political dynamics have also introduced uncertainties, making some businesses hesitant about expanding their presence in China.