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Kandy Wong

Figures from some of China’s most prominent firms – including electric vehicle maker BYD and smart manufacturing giant Xiaomi – are likely to accompany President Xi Jinping on his trip to the US next week, according to two sources with knowledge of the matter.
The entourage would draw a parallel to the coterie of CEOs that US President Donald Trump brought to Beijing in May, and could signal greater potential for investment deals as part of the high-profile summit.
According to one of the sources, who asked not to be named due to the sensitivity of the issue, representatives of Zhongji Innolight – a leading producer of optical transceivers used in artificial intelligence data centres – could also join, despite recent reports the firm would be on the receiving end of US export restrictions.
Bank of China, the country’s most internationalised lender with an established presence in the US, might also be invited, the person added.
Another source, speaking on the condition of anonymity, said Contemporary Amperex Technology Limited (CATL) could be another company on the guest list.
“It will be significant if CATL [also] joins the trip,” the person said, referring to BlueOval Battery Park Michigan – a collaboration between American auto giant Ford and the Chinese battery maker – announced in 2023 and scheduled to start operations this year.
The 1.8-million-square-foot battery manufacturing plant, one of the most prominent China-US joint ventures on American soil, drew strong opposition from local residents and lawmakers amid broader tensions between the two countries.
The actual number of companies in the delegation is unknown, as the list is being regularly modified. None of the firms mentioned by the sources immediately responded to requests for comment by the South China Morning Post.
In May, Nvidia’s Jensen Huang, Tesla’s Elon Musk, Apple’s Tim Cook, BlackRock’s Larry Fink and Boeing’s Kelly Ortberg were among the business leaders joining Trump on his state visit to China.
US Treasury Secretary Scott Bessent on Tuesday confirmed that he will meet Chinese Vice-Premier He Lifeng this weekend for final preparatory talks, less than a week before Xi is scheduled to travel to the US.




“The industry breadth of a delegation could signal that Beijing … puts commercial engagement alongside strategic diplomacy and gives businesses a stake in stabilising ties,” said Han Shen Lin, China managing director for The Asia Group.
Lin added the summit could lay the groundwork for future talks at multilateral forums such as the Asia-Pacific Economic Cooperation meeting and the Group of 20.
“Both sides want to buy time, but it’s a good sign if this summit confirms further engagement.”
James Downes, director of the Europe-Asia programme at the US-based Centre for Explanatory Research and Scientific Prediction, said that Xi’s business delegation would be less about securing a breakthrough deal than about containing the economic fallout from the countries’ broader strategic rivalry.
“A major trade deal, broad technology detente or sizeable Chinese investment commitments are extremely unlikely,” he added.
Among the agreements reached at the May summit was the establishment of bilateral trade and investment councils, but action on the latter body has stalled amid wariness from US legislators and other figures within the Trump administration over welcoming Chinese investment.
According to a White House fact sheet released after the summit, the US-China Board of Investment would provide a “government-to-government forum for discussing investment-related issues” while the corresponding Board of Trade would focus on bilateral trade in non-sensitive sectors.
“The most realistic outcome is a structured channel for commercial engagement,” Downes said. “Clearer procedures for trade and investment screening, and cooperation in less sensitive policy areas such as agriculture, consumer goods, selected green supply chains and industrial inputs.”
In July, the US Federal Communications Commission (FCC) proposed rules to tighten authorisation requirements for devices containing certain hardware components made by entities on the Covered List – a US blacklist of foreign technology equipment and service providers deemed to pose an unacceptable risk to national security.
Earlier this month, the US regulator issued its final decision on the rules, excluding optical transceivers and easing market anxieties over a potential ban. Zhongji Innolight’s share prices went up by 4 per cent the day of the FCC’s announcement.
Additional reporting by Ann Cao


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Sizeable business delegation – mirroring US President Donald Trump’s entourage in Beijing – suggests potential for investment deals at the summit


Sizeable business delegation – mirroring US President Donald Trump’s entourage in Beijing – suggests potential for investment deals at the summit.


.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Sizeable business delegation – mirroring US President Donald Trump’s entourage in Beijing – suggests potential for investment deals at the summit

Sizeable business delegation – mirroring US President Donald Trump’s entourage in Beijing – suggests potential for investment deals at the summit