China just told execs from Apple, Citadel, and Qualcomm that Beijing is still down to do business even with 'unexpected shocks' to trade

• China's Premier, Li Qiang, told top executives that the country is still open for business.
• He said with rising "instability and uncertainty," it was important for countries to open their markets.
• This comes as trade tensions escalate between China and the US.

China assured top multinational executives on Sunday that it's still open for business, even as it grapples with increasing trade tensions with the US.

Speaking to over 80 executives during the China Development Forum 2025 in Beijing on Sunday, China's Premier Li Qiang spoke about receiving "unexpected shocks from other countries."

"Today, global economic fragmentation is intensifying, and instability and uncertainty are on the rise," Li said in his speech.

Li said, at present, it's "even more important for each of our countries to open up their markets more, and our companies, our businesses, should be sharing their resources more."

"Decoupling and breaking the chain will only aggravate the crisis, and suppression and containment will ultimately harm everyone," Li said.

Footage of Li's speech in the Chinese media showed top executives in attendance, including Apple's CEO Tim Cook, Citadel's founder Ken Griffin, and Qualcomm's CEO Cristiano Amon.

Li's speech comes amid escalated trade tensions between the US and China.

In February, just weeks after entering office, President Donald Trump imposed a 10% tariff on Chinese goods in an attempt to curb the flow of fentanyl into the US. While on the campaign trail, Trump said he would introduce tariffs of more than 60% on Chinese goods if he won the presidency.

China retaliated soon after with a 10% tariff on crude oil and agricultural equipment and a 15% tariff on coal and liquefied natural gas.

Later, on March 4, Trump doubled the tariffs on China to 20%. China, in turn, responded with a 10% tariff on US soybeans, pork, and beef imports, as well as a 15% tariff on chicken and cotton imports.

It's not just with the US that trade tensions are brewing — there's bad blood between China and Canada, too.

On March 8, China said it would impose tariffs on Canadian agricultural and food imports. This included a 100% tariff on rapeseed oil, rapeseed meal, and peas, as well as a 25% tariff on some seafood and pork products.

China's finance ministry said the retaliatory tariffs were in response to Canada's levies on Chinese steel, aluminum, and electric vehicles. China's tariffs on Canada came into effect on March 20.

Sunday's meeting comes as China seeks to stimulate its economy with overtures to the private sector.

Last month, Chinese leader Xi Jinping met with the country's top tech leaders, including Alibaba's founder, Jack Ma, Tencent's CEO, Pony Ma, and Huawei's CEO, Ren Zhengfei.

"It is necessary to resolutely remove all kinds of obstacles to the equal use of production factors and fair participation in market competition," Xi told the executives, per state news agency Xinhua.

China's foreign ministry did not respond to a request for comment from Business Insider.