BEIJING — Over 80 global executives, including leaders from Apple and Eli Lilly, gathered in Beijing for the annual China Development Forum on March 22, 2026. The event comes amidst U.S.-China tensions and reflects a renewed interest in penetrating the Chinese consumer market following previous economic uncertainties.
During the forum, Chinese Premier Li Qiang highlighted the rapid pace of technological advancement in the country, emphasizing developments in factory automation. Tim Cook, CEO of Apple, noted the company’s recovery in iPhone sales in China, attributing over 90% of Apple’s production in the region to clean energy.
As of the December quarter, China accounted for nearly 18% of Apple’s revenue. The recent release of the iPhone 17 has led to a 23% increase in Apple’s smartphone sales in the first nine weeks of the year, contrasting with a 4% decline in China’s overall smartphone market.
The attendance included more than 30 executives from U.S. companies such as McDonald’s and Mastercard, along with representatives from British, South Korean, and German firms. Their visit coincides with a recently established trade truce between the U.S. and China, although future extensions of this agreement remain uncertain.
Eli Lilly also made headlines by announcing a $3 billion investment in China over the next decade. The company, which reported that less than 3% of its revenue came from China last year, sees potential in the market for its GLP-1 obesity drug amid improved reimbursement systems.
Premier Li stated that Beijing intends to facilitate foreign access to the nation’s services sector and to purchase more healthcare and digital technology products from abroad. He also countered the notion that state subsidies were the main drivers of China’s technological growth.
The forum reflects the ongoing commitment by various companies to invest in China, despite pressures from the U.S. government. Notably, Volkswagen CEO Oliver Blume has been active in discussions at the forum, focusing on challenges in supply chains and the market environment in China.
Source: Reported based on publicly available information from www.cnbc.com.
