Xi Jinping reportedly assembling US business delegation including BYD, CATL, and Xiaomi

Chinese President Xi Jinping is assembling a delegation of top business executives to accompany him on a state visit to Washington scheduled for September 24, with companies like BYD, CATL, and Xiaomi among those expected to make the trip. The move is designed to seek better market access for Chinese firms, many of which currently face punishing US tariffs and regulatory headaches.

The delegation takes shape

Beyond the headline names, the delegation reportedly includes executives from Gotion, Hisense, Wanxiang Group, and Bank of China. Reports also suggest Zhongji Innolight, a major optical communications supplier, may be added to the list.

The final lineup remains fluid. Invitations and US visa approvals are expected to be issued shortly before the visit, meaning the composition could still shift in the coming days.

Selection criteria for the delegation reportedly go beyond pure commercial logic. Loyalty to the Communist Party, the potential for actual US business deals, and a careful calibration to ensure no executive overshadows Xi himself are all part of the calculus.

The visit marks Xi’s first significant business-oriented trip to the US since 2015.

Sanctions, tariffs, and the elephant in the room

BYD, the world’s largest electric vehicle maker by volume, was added to the Pentagon’s list of Chinese military companies in June 2026. That designation doesn’t ban US investment outright, but it sends a chilling signal to American partners and investors. Chinese electric vehicles broadly face 100% tariffs in the US, a barrier so steep it essentially functions as a market ban.

CATL, the dominant global battery manufacturer, has faced its own scrutiny over alleged ties to forced labor in Xinjiang, though the company has denied those claims. Xiaomi, meanwhile, was briefly placed on a Pentagon blacklist in 2021 before successfully fighting the designation in court.

Mirror image diplomacy

The delegation format mirrors the approach Trump took during his own visit to Beijing in May 2026, when he brought along a group of American CEOs that included Elon Musk and Tim Cook. That trip produced a series of memorandums of understanding and investment pledges.

What investors should watch

The EV sector is the most obvious pressure point. With 100% tariffs effectively locking Chinese automakers out of the US, even a signal that Washington might consider a phased reduction could move markets significantly. BYD and CATL sit at the center of global battery and EV supply chains that touch every major automaker from Volkswagen to Ford.

The Bank of China’s inclusion in the delegation is worth noting separately. Financial sector engagement suggests the conversations may extend beyond goods and tariffs into capital flows, investment frameworks, and potentially even currency coordination.

For now, the most telling indicator will be the final guest list itself. Which companies make the cut, and which get quietly dropped before September 24, will reveal how far both sides are willing to push their luck.