President Xi Jinping met with leading private-sector entrepreneurs in a rare high-profile gathering aimed at boosting business confidence amid economic headwinds. The meeting, held at the Great Hall of the People, featured major industry figures, including Alibaba co-founder Jack Ma, Xiaomi’s Lei Jun, and Meituan’s Wang Xing.
China’s economic slowdown and its ongoing tech rivalry with the U.S. have put pressure on the private sector. In recent years, major firms have faced increased regulatory scrutiny, prompting concerns about the government’s commitment to private enterprise. This meeting, analysts say, is an attempt to rebuild trust and stabilize business confidence.
“The inclusion of Jack Ma in this event suggests the government is looking to signal a shift in tone regarding its tech sector,” said Gary Ng, Senior Economist at Natixis.
The meeting also coincides with renewed enthusiasm in China’s tech market, driven by advances from AI startup DeepSeek. Investors have reacted positively, hoping this signals a more business-friendly policy direction.
During the discussions, President Xi emphasized economic revitalization and fair market practices, promising new tax breaks and improved conditions for private firms. This move is expected to encourage entrepreneurship and drive innovation in China’s evolving economy.
