2023 APEC summit: Xi to meet Biden and what else to expect in San Francisco

Leaders from the 21-member Asia-Pacific Economic Cooperation forum gather this week in San Francisco for the 30th APEC summit, where the spotlight will be on a rare meeting between the U.S. and Chinese presidents.

WHAT IS APEC AND WHAT TO WATCH FOR?

APEC accounts for about 62% of global GDP and almost half of global trade. It is unique in grouping economies rather than nations, allowing participation of Chinese-ruled Hong Kong and democratically governed Taiwan, which China claims as its own. It does not though include India, the world's most populous country.

APEC operates on the basis of non-binding commitments with decisions reached by consensus and commitments undertaken on a voluntary basis. The leaders will gather from Wednesday to Friday, following preparatory meetings of senior finance officials and ministers. An annual APEC CEO summit runs from Tuesday to Thursday.