[News Terms] Spotlight on the Success of the 'China Development Forum' Inviting Major Global Business Leaders

The "China Development Forum (CDF)" is an international forum held annually in Beijing to discuss important issues related to China's economic development and to promote dialogue between the Chinese government, enterprises, academia, and foreign governments and companies. CDF serves as a platform for discussions and knowledge exchange on various fields including China's economy, society, and environment.

Chinese Premier Li Qiang is delivering a speech at the 2nd session of the 14th National People's Congress (NPC) on the 5th.
[Photo by AFP/Yonhap News]

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Externally, it plays a role in enhancing understanding of China's rapidly changing economic and social conditions and promoting international cooperation and exchange. Through this, it provides a broad perspective on China's development strategies and policies and shares insights on global issues.

The forum was first held in 2000 by the Development Research Center of the State Council (DRC) and the Chinese Academy of Sciences (CAS). It has been held every year on the weekend following the annual "Two Sessions" (National People's Congress and Chinese People's Political Consultative Conference).

This year, it will begin over two days, from the 24th to the 25th, at the Diaoyutai State Guesthouse in Beijing. Typically, meetings between the Chinese Premier and global CEOs attending the CDF are considered the forum's main events.

On the 19th (local time), the US daily The Wall Street Journal (WSJ) reported that many American business leaders, including Apple CEO Tim Cook, Pfizer CEO Albert Bourla, and Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, are expected to attend this year's CDF.

Evan Greenberg, CEO of the American insurance company Chubb, is set to serve as co-chair of the China Development Forum. Many of the expected attendees are regular participants in this forum, which is held annually by the China Development Research Foundation, a think tank affiliated with the Chinese government.

This year's CDF is attracting attention as it is held amid frozen US-China relations, with the US Congress pushing legislation to ban the Chinese video platform TikTok. Given the economic slowdown in China and the implementation of the anti-espionage law leading to Western capital withdrawing from China, it remains uncertain how much this CDF will help retain foreign capital and attract new investment.

The WSJ particularly noted that the organizers are uncertain which senior Chinese officials, including President Xi Jinping and Premier Li Qiang, will attend and meet with Western company CEOs. While it is not uncommon for China to confirm the attendance of its leaders shortly before the event, this time the uncertainty is more pronounced than in previous years.

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