China's Xi Draws Standing Ovation From U.S. Business Leaders—and Some Doubts - The Wall Street Journal

President Biden said he and his Chinese counterpart Xi Jinping would continue to “preserve and pursue” high level diplomacy, after the pair held talks on Wednesday at an estate outside of San Francisco. WSJ’s Charles Hutzler analyzes the meeting. Photo: Doug Mills/AP

SAN FRANCISCO—Foreign capital is fleeing China. Yet on his first trip to the U.S. in six years, Chinese leader Xi Jinping didn’t make a pitch to win back American businesses and investors.

Instead, at a dinner with U.S. corporate chiefs and other guests, Xi sought to enlist American corporations’ help in easing

bilateral tensions, emphasizing the room for both nations to work together—a theme of his meeting with President Biden earlier Wednesday. Throughout his speech, Xi described himself as a leader of the people and stressed the importance of buttressing bilateral ties with people-to-people exchanges but didn’t specifically highlight trade or investment.