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China has stepped up meetings with international

executives

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Seeking closer ties with foreign firms as investment slows

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Beijing aiming to ward of U.S. tariff-related disruptions

SHANGHAI, March 27 (Reuters) - The global heads of

German automakers BMW and Mercedes, as well

as chip giant Qualcomm ( QCOM ) are among foreign business

leaders due to meet with Chinese President Xi Jinping this week,

two sources said on Thursday.

The meeting in Beijing planned for Friday comes as Chinese

authorities seek to bolster ties with foreign companies amid a

drop in investment and in the face of U.S. tariffs targeting the

world's second-biggest economy.

The meeting follows on from last weekend's China Development

Forum (CDF), a flagship business event that this year saw

Premier Li Qiang urge countries to open their markets and combat

"rising instability and uncertainty".

Li also pledged that China would deliver more active

macroeconomic policies.

Executives from Apple ( AAPL ), Pfizer ( PFE ), Mastercard ( MA )

, Cargill and others met with Chinese commerce ministry

officials over the course of CDF.

The sources, who have direct knowledge of the planned

meeting between Xi and the Mercedes, BMW and Qualcomm ( QCOM )

executives, asked not to be named as they are not authorized to

speak with media. They gave no details regarding the expected

substance of the talks.

The companies did not immediately reply to Reuters' requests

for comment. The Chinese foreign ministry also did not

immediately respond to a request for comment.

The frequency of meetings between foreign executives and

high-level Chinese authorities has picked up over the past month

after official data showed foreign direct investment (FDI)

plummeted 27.1% year-on-year in local currency terms in 2024.

That marked the biggest drop in FDI since the 2008 global

financial crisis.

Global firms have been moving manufacturing away from China

in an effort to diversify their supply chains and derisk their

operations among escalating geopolitical tensions.

China's slowing economy has also played a role in the

decline in investment, while a sweeping crackdown on consultancy

and due diligence firms has rattled some foreign executives.

Beijing is also eager to mend relations with global business

leaders to help fend off disruptions sparked by tariffs imposed

by U.S. President Donald Trump.

China remains one of the biggest markets for German

automakers, including BMW, Mercedes and Volkswagen,

in spite of market share leakage to Tesla and Chinese rivals

including BYD and Xiaomi.

It may become even more important after Trump's announcement

of a new 25% tariff on imported autos to the U.S. due to go into

effect on April 3.

German automakers have recently ramped up efforts to seek

technology partnerships with Chinese companies to enhance their

product competitiveness there.