At the invitation of the U.S.-China Business Council (USCBC), the Boao Forum of Asia held a joint CEO roundtable dialogue for the third time on June 26, 2012. Boao Secretary General Zhou Wenzhong and USCBC Chair Robert McDonald co-chaired the event.

Zhou Wenzhong stated: "Acting as one channel for moving forward US-China relations, communication between business executives, especially this sort of honest dialogue between such influential leaders in the business community, is becoming increasingly important. The Boao Forum and USCBC have held this dialogue for the last two years, and it has allowed for a deep and thorough discussion of all elements of U.S.-China trade, at both the macro- and micro-levels. The outcomes of the dialogue and the resulting recommendations travel through a variety of channels to influence policymakers in both nations, promoting the healthy development of the bilateral economic relationship. Leading into this year’s dialogue, there have been a number of new developments influencing bilateral trade relations. It is my hope that through this dialogue, we might work to deepen mutual understanding between the business communities of both nations, which may also carry over to influence policymakers to establish positive relations."

USCBC Chair Bob McDonald stated: "The business-to-business relationship is a crucial channel for building healthy bilateral commercial relations. Boao and Secretary General Zhou do an outstanding job of bringing a diverse group of Chinese CEOs from the state-owned and private sectors together to share their views with USCBC’s directors on the global economy and on key investment and trade issues. This exchange helps to better inform both sides and prioritize issues for us to raise with the U.S. and Chinese governments. We are already looking forward to our next CEO dialogue."

The event brought together nearly 20 well-known business leaders from a variety of business sectors to hold expansive and constructive talks. Discussion topics included prospects for bilateral trade relations, changes in the investment landscape in both China and the U.S., ways to promote the elimination of trade barriers, the U.S. elections, reforms to promote the development of private capital in China, and SOE reform. Business leaders from both nations agree that this sort of small- scale, closed door discussion between high-level business leaders holds a representative meaning for greater economic relations. In such a forum the participants are able to talk in detail about all aspects of bilateral trade relations and speak candidly about some of the biggest obstacles in improving trade and investment between the two nations.

Chinese participants included Li Jiange, Chairman of the China International Capital Corporation Limited; Gao Xiqing, Vice Chairman & President of China Investment Corporation; Fu Chengyu, Chairman of Sinopec Group; Xiao Gang, Chairman of Bank of China; Xiong Weiping, Chairman of the Aluminum Corporation of China Limited; Liu Chuanzhi, Chairman of Legend Holdings Ltd.; Fan Wei, Co-President of Fosun Group; and Sun Yiping, CEO of Mengniu Dairy Company Limited. US participants included Robert A. McDonald, Chairman of the Board, President and Chief Executive Officer of Procter & Gamble, and Chairman of the U.S.-China Business Council; John Frisbie, President of the U.S.-China Business Council; Hamid Biglari, Vice Chairman and Head of Emerging Markets, Citigroup, Inc.; Dan Brutto, President of UPS International; Mark C. Rohr, Chairman and Chief Executive Officer of Celanese; Jes Staley, Chief Executive Officer of J.P. Morgan Investment Bank ; Patricia A. Woertz, Chairman, Chief Executive Officer and President of Archer Daniels Midland Company; and Jesse J. Wu, Worldwide Chairman of Consumer Group Johnson & Johnson.