Global chief executives including Apple’s Tim Cook, ExxonMobil chair Darren Woods and HSBC’s Noel Quinn will attend China’s version of Davos in Beijing this weekend, as international criticism mounts that Chinese industrial oversupply could lead to a “slow-motion train accident” for world trade.

Almost 90 CEOs, as well as heads of multilateral organisations such as the IMF, are expected to attend the China Development Forum. US executives in particular are returning to the event this year in greater numbers, attendees said, in a sign that bilateral tensions have eased slightly after they plumbed new lows last year due to a spy balloon incident.

The foreign visitors to the conference — which is held in the scenic Diaoyutai State Guesthouse in Beijing — have been left hanging, however, over whether China’s current premier Li Qiang will officially attend the event this year.