From Tesla and SpaceX CEO Elon Musk to Apple chief Tim Cook, top tech honchos and corporate leaders met Chinese President Xi Jinping during a gala dinner here during his state visit.

Xi received standing ovations from more than 300 corporate leaders and top officials, including Cook and Blackstone’s Steve Schwarzman.

Musk on Friday posted his photo with the Chinese President on X, saying, “May there be prosperity for all”.

The gala dinner was hosted by the US-China Business Council and the National Committee on US-China Relations.

“Whatever stage of development it may reach, China will never pursue hegemony or expansion, and will never impose its will on others,” the President told the gathering.

Earlier, US President Joe Biden told his Chinese counterpart that they should keep their communications lines open and get to understand each other so as “to ensure that competition (between their countries) does not veer into conflict”.

Xi reiterated his opposition to describing the relationship as competition saying it “is not the prevailing trend of current times”.

Biden said that the US is not trying to "decouple" from China, but pursuing better relations with its assertive rival.

Xi arrived in San Francisco this week for a summit with Biden, and to attend the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting.