Xi Pledges Wider Market Access as Top U.S. Tech CEOs Join Trump in Beijing

CNBC reported Thursday that Chinese President Xi Jinping used a high-profile meeting with American business leaders to promise expanded commercial access to China. The pledge came as some of the most powerful U.S. tech CEOs accompanied President Donald Trump on a state visit to Beijing.

Silicon Valley Lands in Beijing

Tesla and SpaceX chief Elon Musk, Apple CEO Tim Cook, and Nvidia CEO Jensen Huang were among the executives who joined Trump’s delegation. Trump personally introduced each executive to Xi at the summit, according to Chinese state media outlet Xinhua. The executives collectively told Xi they valued the Chinese market and wanted to deepen their operations there.

Xi’s message, as relayed by Xinhua, was unambiguous. He said American firms had played a meaningful role in China’s economic development, and that both nations had benefited from that involvement. He added that Beijing would only widen its door to foreign business. The White House echoed the sentiment, posting that both sides had discussed expanding market access for American companies and growing Chinese investment flows.

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A History of Chip Restrictions

The summit backdrop is complicated by years of U.S. restrictions on selling advanced semiconductors to China. Washington has repeatedly moved to limit Beijing’s access to cutting-edge chip technology, citing national security concerns. Nvidia has faced particularly tight export controls, limiting its ability to sell high-performance processors into the Chinese market. Chinese firms have responded by accelerating investment in domestic chip production, and Chinese AI developers have continued to produce competitive models despite the restrictions.

Also Read: Nvidia Faces Fresh Export Restrictions on China Chip Sales

H200 Approval Muddies the Picture

Reuters separately reported on Thursday that Washington had authorised Nvidia to supply certain Chinese technology companies with its H200 processor, one of its more capable products. When CNBC asked Treasury Secretary Scott Bessent about the report, he said it was news to him and deferred to the Commerce Department. Huang declined to address Nvidia’s chip sales specifically. He did, however, describe the Beijing gathering as “one of the most important summits in human history.” Bessent added that the two countries planned to collaborate on an AI safety protocol designed to keep advanced models away from non-state actors.

George Chen of The Asia Group told CNBC that Xi’s opening-up statement was not simply political theatre. China, he argued, genuinely needs to remain competitive for foreign capital at a time when global investment options are widening.

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