President Xi Jinping meets China’s leading maniacs at rare support shows

President Xi Jinping met some of China’s most prominent maniacs, sending what analysts say is the strongest signal of support for years for companies such as Internet Alibaba and Tencent giants.

XI met them at a symposium for private sector companies on Monday held in the big Peking Hall of People, reported the official news agency Xinhua and delivered a speech after hearing entrepreneurs.

X pledged “unwavering support” for private enterprises, including financing support and tax relief, and in creating a fairer competitive environment. “Our private economy will only be stronger and cannot be weakened,” he said according to Xinhua. “And it must perform at a larger stage.”

Pony Ma, founder of the Game Giant and Social Media Tencent and the country’s second richest man with a fortune of $ 52.1 billion, was at the event, a person with knowledge of the issue told Forbes Asia. Alibaba Jack Ma associate, Byd Wang Chuanfu’s associate, the founder of Xiaomi Lei Jun, and the founder of Huawei Ren Zhengfei could be seen in footage by the state broadcaster CCTV. Reuters first reported that the meeting would take place last week.

“Private enterprises now play an extremely important role in stabilizing the economy, as China still faces high growth pressure and ambiguity in 2025,” says St. Meng, Managing Director of Boutique Boutique Bank & Co., says Wechat . “The reception of the highest level meeting with the private sector entrepreneurs sends further positive signals to their development. “

The last time Xi held such a meeting was in 2018, at the beginning of a US-China trade war during the first administration Donald Trump, which brought considerable risks to the country’s economy, Feng Chucheng, founding partner of the research firm based in Shanghai Hutong research, says from Wechat. Now, China is facing SH.BA not only in trade, but advanced technologies, including him and the semiconductors, as the two world of economies in the world knight in these areas.

SH.BA has imposed comprehensive controls on the sale of AI- and chip-related technologies in China, not completely successfully. Deepseek, whose founder Liang Wenfeng was also reported among the meeting of technical Entrepreneurs XI on Monday, released in January a very cost -effective model that fascinated Silicon Valley. She then deleted about $ 1 trillion from the market leaders’ market lids, including Nvidia after investors began to ask if high costs in chips associated with it are needed.

E-commerce Behemoth Alibaba announced in January that her latest model he could be better than Deepseek and some Opennai models in certain performance areas. Tencent says he is trying beta integration of Deepseek’s model into his WeChat messaging app in China, fostering hopes that this would create a super app with expanded search and recommendation functions. The shares listed in Hong Kong to Tencent increased up to 6.5% in that news in Monday’s trade.

“The private sector will serve as the foundation of future growth,” says Hutong Research’s Feng. He adds that one of the goals of Monday’s meeting was to “double the car’s consumption and innovation” to support economic recovery.

Support signals for the private sector from the foremost to a dramatic reversal of residence. Following Jack MA’s criticism in 2020 for China’s financial regulatory system, Beijing in force stopped a public offer of Fintech Giant Ant Group, who joined me after Alibaba. Officials carried out a comprehensive stroke of the technology sector, fines billions of dollars for monopolistic practices and even stopping the issuance of game licenses, as they blamed online games for causing addiction between young people.

Alibaba’s collaborator traveled overseas for years, before gradually appearing in public View starting in 2024. The company confirmed last week that it was partnership with Apple to introduce the services of iPhone in China, for which analysts say can help Alibaba attract more users to her models down the road.