(Bloomberg) -- The head of US Chamber of Commerce is visiting China this week to meet with Chinese and American officials and executives, the latest sign of improving ties between the world’s two biggest economies and competitors. 

Suzanne Clark, chief executive officer of the US business lobby group, is leading a group of former US government officials to Beijing, the chamber said in an emailed statement. 

Clark’s delegation will meet with “senior Chinese government and local business leaders,” the chamber said. They will also meet “executives from the American business community and representatives of the foreign diplomatic corps.”

She will be accompanied by Susan Schwab, a former US Trade Representative under President George W. Bush, according to a person familiar with the plans, who asked not to be identified as the information is private. 

Washington and Beijing have been working to stabilize ties after President Joe Biden met with his Chinese counterpart Xi Jinping in November, leading to a resumption of communications between their two militaries and the launch of working groups on economic and financial issues, as well as to coordinate the flow of the drug fentanyl to the US.

On Monday, Chinese Commerce Minister Wang Wentao met with US Trade Representative Katherine Tai during a World Trade Organization event in Abu Dhabi. Earlier this month, Treasury Undersecretary Jay Shambaugh met Vice Premier He Lifeng in Beijing. 

US companies have expressed optimism about China’s near-term business environment, according to a survey by the American Chamber of Commerce in China conducted late 2023, though many are still holding off on investing. 

Clark’s visit comes ahead of AmCham China’s annual appreciation dinner on Friday, where this year’s guest of honor is expected to be Chinese Vice President Han Zheng, according to two people familiar with the matter.

While the US Chamber of Commerce and AmCham China both represent American businesses, they are separate organizations. 

Han is the most-senior official to participate in the dinner, one of the people said, a sign that Beijing sees better US-China relations now than a year ago. It also signals that the Chinese government wants to show it’s reaching out to the foreign business community, the person said. 

Individual tickets for the AmCham China dinner are on sale for 10,000 yuan ($1,389), according to its website. In 2020, Beijing sent Wang Chen, a top official sanctioned by the U.S., to the annual event. 

(Updates to recast first three paragraphs to incorporate US Chamber of Commerce statement.)

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