China Signals New Era for Private Sector with High-Profile CEO Summit

President Xi Jinping's meeting with top business leaders marks a strategic shift to revitalize China's private sector amidst economic challenges and tech competition with the U.S.

• President Xi Jinping hosted a major summit with leading private-sector CEOs, including Alibaba's Jack Ma, signaling a potential end to China's regulatory crackdown on tech firms.
• The meeting highlighted China's pressing need to engage private entrepreneurs to address slowing economic growth, deflation, and trade tensions with the U.S.
• Xi emphasized equal market competition for private companies and announced plans for a new Private Economy Promotion Law to guarantee legal protections for entrepreneurs.
• Key attendees included leaders from Huawei, BYD, Xiaomi, and AI startup DeepSeek, underscoring China's focus on tech self-sufficiency and advanced manufacturing.
• Analysts note the summit's symbolic importance, though concerns remain about the long-term stability of China's private sector under Xi's leadership.

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