Apple CEO Tim Cook is attending a Chinese business forum in Beijing this weekend, one of the few U.S. business leaders slated to make an appearance.

Cook will be attending the China Development Forum — an annual conference sponsored by the Chinese Communist Party, according to China Daily and Bloomberg.

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This year marks the forum's return after the COVID-19 pandemic and presents an opportunity for Western business leaders to enjoy face time with high-ranking Chinese officials.

The Apple CEO is already in China — he made a public appearance at an Apple Store in Sanlitun, Beijing on Friday.

Pfizer CEO Albert Bourla will also be in attendance, as well as the founder of Bridgewater Associates, Ray Dalio, according to reports.

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Shares of movie theaters moved higher on a report that Apple is planning to invest as much as $1 billion annually to make films to be shown to shown on the big screen.

Bloomberg reported the amount the Thursday, attributing the information to unnamed sources "familiar with the company’s plans," which are reportedly still being hammered out.

Movies that Apple will release in theaters could potentially see a minimum of one-month runs in cinemas, according to Bloomberg. 

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Additionally, the company behind iPhones and Apple TV+ has reportedly been reaching out to Hollywood studios in connection to the plans. 

FOX Business reached out to Apple for comment on Cook's trip, but has not received a response.

FOX Business' Aislinn Murphy contributed to this report.