Xi Jinping Signals Renewed Support for China's Private Sector in Meeting with Top Entrepreneurs

The Chinese president met with leading business figures, including Alibaba's Jack Ma, highlighting a shift in Beijing's approach to boost economic growth and innovation.

President Xi Jinping hosted a symposium with prominent private sector leaders, including Jack Ma, Ren Zhengfei of Huawei, and Lei Jun of Xiaomi, signaling a more supportive stance toward private enterprises.
The meeting is viewed as a turning point following years of regulatory crackdowns on China's tech sector, with Xi emphasizing the need for fair competition and legal protections for private businesses.
Xi underscored the role of private companies in driving technological innovation, economic recovery, and self-reliance in the face of geopolitical challenges, including U.S. trade tensions.
Markets responded positively, with Chinese tech stocks rallying and reaching multi-year highs, fueled by optimism about regulatory easing and breakthroughs like DeepSeek's AI model.
The event sets the stage for further policy announcements, including the anticipated passage of the Private Economy Promotion Law aimed at ensuring equal treatment for private enterprises.