Microsoft (NASDAQ: MSFT) co-founder and billionaire philanthropist Bill Gates arrived in China on Wednesday and, according to a Reuters report, had a meeting with Chinese President Xi Jinping on Friday.
What Happened: The meeting took place at Beijing's Diaoyutai state guesthouse, which is a customary venue for hosting foreign dignitaries. Gates is the first prominent Western business leader to be received by Xi since the onset of the COVID-19 pandemic.
During their encounter, Xi referred to Gates as his first "American friend" he had met this year, as conveyed in a video released by state broadcaster CCTV.
Xi emphasized the importance of people-to-people connections as the foundation of U.S.-China relations, expressing his hope in the American people and their potential for fostering activities beneficial to both nations and humanity as a whole.
Gates expressed his appreciation for the opportunity to meet with the Chinese president, stating, "We've always had great conversations, and we'll have a lot of important topics to discuss today. I was very disappointed I couldn't come during the last four years, so it's very exciting to be back."
Why It Matters: Recent tensions between the U.S. and China have escalated due to President Joe Biden's support for Taiwan. A recent report reveals that the Biden administration is actively pursuing meetings and phone calls to compel Beijing's engagement. The U.S. strategy seeks to ease tensions with China and label President Xi as uncooperative if he refuses.