(Bloomberg) -- Chinese Premier Li Qiang is expected to meet with top foreign executives on Monday ahead of a supply chain expo in Beijing, just as companies brace for Donald Trump’s threat to hike tariffs on Chinese goods.
Li is likely to address a gathering of businesspeople and hear from top executives of global firms such as Rio Tinto Plc, Corning Inc. and Charoen Pokphand Group, according to people familiar with the matter, who asked not to be identified discussing a private event.
The discussions will likely cover a wide range of supply chain and trade flow issues, the people said. One of them said such events with the premier tend to be highly scripted. The roundtable is organized by the China Council for the Promotion of International Trade, a national foreign trade and investment promotion agency, the people said.
Global businesses are preparing for US President-elect Trump to make good on his campaign promise of a 60% tariff on all Chinese goods, a level that Bloomberg Economics says would decimate trade between the world’s two largest economies. This could add even more strain on China, which is already struggling with a slowing economy, deflation and a slump in foreign investment.
The meeting takes place a day before the second China International Supply Chain Expo in Beijing from Nov. 26-30, which is also hosted by the CCPIT. Premier Li headlined the first expo, but a vice president could give the keynote speech this year, one of the people said.
CCPIT couldn’t immediately comment on the Monday roundtable. London-headquartered Rio Tinto and Thailand’s CP Group declined to comment, while US-based Corning didn’t immediately respond to a request for comment.
CCPIT has taken on a bigger role in promoting investment. Its chairman, Ren Hongbin, who was formerly a vice commerce minister, met with Elon Musk during the Tesla Inc. CEO’s visit to China earlier this year. Ren also led a group of Chinese business leaders to the APEC Business Leaders Summit in Lima this month, and met with the Peruvian Minister of Economy and Finance.
Premier Li last held a roundtable with foreign business executives ahead of the China International Import Expo in Shanghai earlier this month. The upcoming meeting with top foreign executives would be the first such event since Trump’s election victory. Since then, the president-elect has picked several China hawks for top posts in his new administration.
One person attending the Monday event said they didn’t receive any formal invitation.
--With assistance from James Mayger, Katharine Gemmell and Anuchit Nguyen.
(Updates with additional details in penultimate paragraph. An earlier version of the story was corrected to replace the wrong photo of Li Qiang.)
©2024 Bloomberg L.P.