China XI to meet BMW, Mercedes, CEO of Qualcomm, say sources

Shanghai (Reuters) – The world leaders of German car manufacturers BMW and Mercedes (MBGAF) as well as the Qualcomm flea giant are among the foreign business leaders who could meet Chinese President Xi Jinping this week, two sources announced on Thursday.

The Beijing Reunion scheduled for Friday comes when Chinese authorities seek to strengthen ties with foreign companies in the midst of a drop in investment and in front of American prices aimed at the second world economy.

The meeting follows the China Development Forum (CDF) of last weekend, a flagship commercial event that this year saw the Prime Minister Li Qiang urge the countries to open their markets and fight “an increasing instability and uncertainty”.

Li also promised that China would offer more active macroeconomic policies.

The leaders of Apple (AAPPL), Pfizer (PFE), Mastercard (MA), Cargill and others met officials from the Chinese Ministry of Commerce during the CDF.

The sources, which have direct knowledge of the meeting provided between XI and the leaders of Mercedes, BMW and Qualcomm, asked not to be appointed because they are not allowed to speak with the media. They did not give any details concerning the expected substance of talks.

Companies did not immediately respond to requests for comments from Reuters. The Chinese Foreign Ministry also immediately responded to a request for comments.

The frequency of meetings between foreign leaders and high -level Chinese authorities acquired during the last month after official data showed that foreign direct investments (IED) fell from 27.1% in annual shift in local currency in 2024.

This has marked the greatest drop in FDI since the 2008 global financial crisis.

Global companies have distant the manufacture of China in order to diversify their supply chains and have derived their operations from growing geopolitical tensions.

The economy of the slowdown in China has also played a role in the drop in investment, while a radical repression against consulting and reasonable diligence firms has shaken certain foreign executives.

Beijing is also eager to repair relations with global business leaders to help repel the disruptions launched by the prices imposed by US President Donald Trump.

China remains one of the largest markets for German car manufacturers, notably BMW, Mercedes and Volkswagen, despite the leakage of Tesla and Chinese rivals, notably Byd and Xiaomi.

This can become even more important after Trump's announcement of a new price of 25% on cars imported into the United States due to the entry into force on April 3.

German car manufacturers have recently increased efforts to seek technological partnerships with Chinese companies to improve product competitiveness.

(Report by Shanghai Newsroom; edition by Joe Bavier)

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