Over 80 global executives, including top U.S. CEOs from Apple and Eli Lilly, convened in Beijing for the 2026 China Development Forum, highlighting a renewed corporate strategy to engage China's economy amid ongoing U.S.-China tensions.
Forum Context
The annual state-organized China Development Forum was held on March 22, 2026, at the Diaoyutai State Guesthouse. It provides a platform for international business leaders to discuss economic collaboration with Chinese officials, following years of pandemic-related uncertainty and trade frictions.
Chinese Leadership Remarks
Chinese Premier Li Qiang opened the event by declaring an "extraordinary" pace of technological progress in China, specifically pointing to advancements in factory automation and innovation.
Apple's Commitment and Performance
Apple CEO Tim Cook reaffirmed the company's dedication to China during his Sunday address:
- More than 90% of Apple's production in China is powered by clean energy.
- China contributed nearly 18% of Apple's revenue in the December quarter.
- iPhone sales in China increased 23% year-on-year in the first nine weeks of 2026, driven by the iPhone 17 launch, even as the overall smartphone market declined by 4%.
Cook stated, "We are proud to be part of that progress, and we're committed to working alongside our supplier partners to push it even further."
Attendee Composition
Based on an official delegate list reviewed by CNBC, the forum drew:
- Over 30 U.S. executives from firms such as McDonald's, Tapestry (parent of Coach), and Mastercard.
- Representatives from British, South Korean, and German corporations, including Siemens CEO Roland Busch.
Additional Corporate Moves
Prior to the forum, Cook visited Chengdu to address pressures on Apple's China App Store fees, reflecting ongoing regulatory challenges in the region.
