Chinese President Xi Jinping told American CEOs traveling with President Donald Trump that the door to business in China will "open wider."
"Xi said that U.S. companies are deeply involved in China's reform and opening up, and both sides have benefited from this," according to a report from the state-backed newspaper Xinhua.
"Noting that China's door will only open wider, Xi said China welcomes the United States to enhance mutually beneficial cooperation with China, and expressed belief that U.S. companies will enjoy even broader prospects in China."
The U.S. entrepreneurs said that they attach great importance to the Chinese market, and hope to deepen their business operations in China and strengthen cooperation with China.
"The two sides discussed ways to enhance economic cooperation between countries, including expanding market access for American businesses into China and increasing Chinese investment," The White House said in a statement on X.
Xi's comments are a "strong statement to world companies to continue to invest in China," George Chen, partner and co-chair of digital practice at The Asia Group, told CNBC.
Both China and the U.S. are developing artificial intelligence (AI) at a rapid pace.
China has doubled down on its domestic technology supply chain with local semiconductor firms stepping in to fill the void.
China's AI models, from companies like Alibaba, have been able to compete with some of the technology released from leading firms in the U.S.
Huang, who was a late addition to the China trip, called the meeting in Beijing "one of the most important summits in human history," in comments to reporters.