President Xi Jinping on Friday urged a gathering of multinational CEOs to protect global industry and supply chains, amid threats of more US tariffs.

"We need to work together to maintain the stability of global industry and supply chains, which is an important guarantee for the healthy development of the world economy," Xi told the business leaders, who included the bosses of AstraZeneca, FedEx, Saudi Aramco, Standard Chartered and Toyota.

"I hope everyone can take a broad perspective, not be swayed by transient distractions in the industry, and not blindly follow actions that disrupt the security and stability of global industry and supply chains."

Without referring directly to US tariffs, Xi also warned that "unilateralism and protectionism" were on the rise.

"Multilateralism is the inevitable choice for addressing the difficulties and challenges facing the world, and economic globalisation is an unstoppable historical trend," he said.

Around 40 executives joined the meeting, the majority of whom represented the pharmaceuticals sector.

The executives sat in a horseshoe formation, with Mercedes-Benz CEO Ola Kallenius and FedEx's Raj Subramaniam sitting directly across from Xi. HSBC CEO Georges Elhedery, SK Hynix boss Kwak Noh-jung, Saudi Aramco president and CEO Amin Nasser, and chair of Hitachi Toshiaki Higashihara also sat in the first row.

"Foreign enterprises contribute one-third of China's imports and exports, one-quarter of industrial added value and one-seventh of tax revenue, creating more than 30 million jobs," Xi noted.

"In recent years, foreign investment in China has also been interfered with by geopolitical factors... I often say that blowing out other people's lights does not make you brighter," he added.

The President also said foreign businesses and investment in China have driven economic growth and employment, boosted technological and managerial progress, and facilitated reform and opening up.

"All of this shows that foreign businesses are important participants in the Chinese modernisation drive, in the country's reform and opening up and innovation, and in its interconnectivity with the world and integration into economic globalisation," Xi said.

In this process, foreign businesses have thrived and generally enjoyed handsome returns, achieved win-win results, and forged profound friendship with the Chinese people, Xi added. (Agencies)