Xi Jinping Meets Tech Leaders, Signals Shift in Economic Strategy
The Chinese president convenes private sector executives, including a rehabilitated Jack Ma, to emphasize national priorities and address economic challenges.
- Xi Jinping held a rare meeting with leaders of China's top private companies, including Huawei, BYD, and DeepSeek, in Beijing, signaling a potential recalibration of his approach to the private sector.
- Jack Ma, the long-marginalized founder of Alibaba, appeared at the meeting, suggesting his reacceptance into the political and economic fold after years of fallout with the government.
- Xi's speech emphasized aligning private enterprise efforts with national interests, particularly in the face of strategic competition with the United States.
- The meeting comes as China's economy struggles with post-pandemic recovery, weak consumer spending, and declining foreign investment, prompting speculation about renewed government support for private businesses.
- The success of DeepSeek, a Chinese AI company, has bolstered confidence in the private sector's innovation potential, raising hopes for greater collaboration between Beijing and private enterprises.
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