Xi assures Musk, Tim Cook, CEOs on Trump’s trip: China to 'expand opportunities'

President of China, Xi Jinping, assured US business leaders accompanying Donald Trump that China's market will continue to expand its accessibility.

According to the state newspaper Xinhua, "Xi remarked on the significant participation of US companies in China's ongoing reforms, highlighting mutual benefits."

Xi stated that China intends to further increase its openness and welcomes enhanced cooperation from the US, foreseeing broader opportunities for American enterprises in China."

Tesla and SpaceX founder Elon Musk, Nvidia boss Jensen Huang, and Tim Cook, head of Apple, were among the prominent figures accompanying Trump to China. Trump individually presented them to Xi as covered by Xinhua.

The report noted, "American business leaders expressed their keenness on the Chinese market, expressing eagerness to enhance their operations and collaboration with China."

The White House echoed sentiments of mutual accessibility enhancements in a post on X.

The White House conveyed, "Discussions focused on expanding economic collaboration between both nations, including better US business access to Chinese markets and boosting Chinese investments," via an X statement.

Xi's remarks are "a clear message encouraging international companies to continue investing in China," shared George Chen from The Asia Group with CNBC.

"Xi's comments on opening up aren't just rhetoric. China's need to remain a lucrative destination for foreign investments is clear."

AI as a central topic

Both nations, China and the US, are advancing rapidly in AI fields.

The US has moved to limit China's access to certain technologies that bolster their AI capabilities, including Nvidia products. To counter this, China is reinforcing its internal tech infrastructure with the help of domestic semiconductor firms.

AI innovations from Chinese companies such as Alibaba are proving competitive against leading US tech offerings.

Recent reports from Reuters noted that US authorities have permitted Nvidia to supply specific Chinese tech companies with the H200, a leading-edge product.

Though Nvidia faces export curbs in China, prior reports hinted at potential allowances for its chip sales in China. However, actions remain unclear as China urges its firms to prefer local semiconductors.

When asked by CNBC's Joe Kernen regarding Nvidia’s H200 permissions, US Treasury Secretary Scott Bessent remarked, "This is new information for me."

"There's ongoing dialogue, and the final decisions fall under the commerce department," Bessent clarified.

Nvidia’s Huang, a last-minute addition to the China visit, termed the Beijing meeting as a landmark moment in history but refrained from commenting on Nvidia’s chip sales in China, instead appreciating the positive atmosphere created by Trump and Xi.

"This morning's ceremony was uplifting, with Presidents Xi and Trump both adopting inspiring and welcoming stances," Huang commented.

Bessent advised CNBC that the US and China plan to collaborate on safety guidelines ensuring AI's responsible use, particularly from non-state actors.