Chinese President Xi Jinping convened a rare symposium on Monday with leading private-sector executives, including Alibaba co-founder Jack Ma and Huawei founder Ren Zhengfei, aiming to rejuvenate the private sector amid economic deceleration and escalating U.S. tensions.
The gathering at Beijing’s Great Hall of the People also featured prominent figures such as Tencent’s Pony Ma, Xiaomi’s Lei Jun, BYD’s Wang Chuanfu, and CATL’s Robin Zeng. Notably, DeepSeek founder Liang Wenfeng, whose AI models are poised to disrupt the tech landscape, was in attendance, according to sources familiar with the event.
This meeting signifies a strategic shift in Beijing’s stance toward its tech giants following previous regulatory crackdowns. The discussions centered on revitalizing the private sector and encouraging businesses to expand both domestically and internationally, despite challenges posed by U.S. export controls on semiconductors.
Analysts interpret Jack Ma’s presence as a symbolic gesture, potentially indicating an end to the recent regulatory pressures on the tech industry and a renewed governmental support for private enterprises to foster innovation and economic growth.
The symposium underscores Xi’s ongoing efforts to bolster private enterprises while ensuring regulatory compliance, aiming to boost business confidence and stimulate technological advancement in the face of global economic challenges.
