By In a significant move to address economic concerns and strengthen confidence in China’s private sector, President Xi Jinping met with top business leaders, including Alibaba’s Jack Ma, at a high-profile symposium in Beijing. The meeting, held at the Great Hall of the People, comes at a time when China is facing an economic slowdown and growing technological competition with the U.S.
Prominent attendees included Xiaomi founder Lei Jun, CATL chairman Robin Zeng, and Meituan’s Wang Xing. Their presence underscores the government’s recognition of the private sector’s critical role in China’s long-term economic growth.
Experts suggest that this meeting signals a policy shift, aiming to restore confidence in private enterprises. “Xi’s outreach to private businesses could be a crucial step toward easing concerns about regulatory crackdowns,” said Christopher Beddor, Deputy China Research Director at Gavekal Dragonomics.
This development also coincides with renewed interest in China’s tech sector, driven by breakthroughs from AI startup DeepSeek. The tech stock market has responded positively, reflecting investor optimism.
President Xi emphasized the importance of fair competition and economic revitalization, promising tax reductions and better treatment for private firms alongside state-owned enterprises. The move is expected to help stabilize China’s business environment and encourage innovation.