China keeps extending the Shenzhen Apec deadline. Why are US execs so unenthused?

Several prominent American business leaders are expressing reservations about participating in the upcoming Asia-Pacific Economic Cooperation summit and related events in Shenzhen, according to sources familiar with the situation. The hesitancy stems from a lack of clear scheduling information, limited expectations for significant breakthroughs, and insufficient prospects for substantive interaction.

Beijing has extended an invitation to numerous US business executives, especially those who participated in President Donald Trump's visit to China and the subsequent state dinner hosted by Xi Jinping in September. However, some CEOs have opted not to attend due to the uncertainty surrounding the event's agenda and planned meetings.

This follows an incident where a group of Chinese executives were unable to attend the White House state dinner in Washington, despite being present in the US capital at the time. High-profile American business figures, such as Tesla CEO Elon Musk, Nvidia CEO Jensen Huang, and Goldman Sachs CEO David Solomon, who attended the Trump delegation in Beijing and the White House gathering, are on the invitation list for the Shenzhen summit.

The invitation extends to executives from US companies operating in China as well as leading businesses from other APEC nations. However, two sources indicated that some US business leaders have withdrawn from the summit due to insufficient communication from Beijing regarding the schedule and planned activities. These sources noted that China has repeatedly postponed the deadline for companies to register for the summit, implying a lack of enthusiasm and concern over the reasons behind the subdued response.

Beijing's repeated extension of the registration deadline for the summit suggests that interest has been lukewarm and that the host nation is not addressing the factors contributing to the diminished interest. The sources also pointed out a disconnect between Beijing and Washington regarding the agenda and meeting arrangements, suggesting that the former's approach has disregarded concerns from the latter about Chinese investments in the United States and the limited potential for outcomes at a multilateral forum like APEC.

The summit is scheduled to take place from November 17 to 18 in Shenzhen, followed by a leaders' summit from November 18 to 19, during which 21 economies, including the US, Russia, Japan, and South Korea, will convene to discuss regional economic cooperation and trade issues. The APEC CEO summit will feature a meeting between Trump and Xi, marking their third encounter in seven months.

Additionally, Xi is expected to travel to Miami in December for the Group of 20 summit, hosted by the United States, where he is anticipated to engage in bilateral discussions with various world leaders, potentially including Russian President Vladimir Putin, with speculation surrounding the possibility of a trilateral meeting among Xi, Putin, and Trump.