Stephen Schwarzman

China's Xi promises reform in event with US business leaders

President Xi Jinping has promised to open China's economy wider during a meeting with American business leaders ahead of a visit by U.S. President Donald Trump amid trade tensions.

Xi spoke Monday to members of an advisory board to Beijing's Tsinghua University business school that included Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg and Blackstone Group chairman Stephen Schwarzman.

During the event at the Great Hall of the People, the ceremonial seat of China's government, Xi promised to "introduce a series of initiatives to promote and expand opening up," the official Xinhua News Agency reported.

A key Communist Party meeting last week elevated Xi...