In a move that could reshape China’s business landscape, President Xi Jinping is set to host a high-profile symposium next week, with key private sector leaders—including Alibaba’s co-founder Jack Ma—in attendance.
This rare gathering signals an effort to revive business confidence amid economic challenges and ongoing tensions with the United States.
A Strategic Move to Reassure Business Leaders
Sources familiar with the event indicate that Xi will use the symposium to encourage China’s entrepreneurs, particularly those in the tech sector, to expand both domestically and internationally. With the U.S.-China tech war intensifying, Xi’s message is expected to focus on resilience, growth, and national economic stability.
This is only the second time since taking office that Xi has personally chaired such an event for private businesses. His previous symposium in 2018 aimed to reassure business owners of their role in China’s economy, pledging tax cuts and financial support. This year’s meeting takes place against the backdrop of regulatory crackdowns and a shifting economic strategy emphasizing “common prosperity.”
Jack Ma’s Return: A Confidence Booster?
Perhaps the most surprising development is the inclusion of Jack Ma, the billionaire co-founder of Alibaba, who has kept a low profile since Chinese regulators halted the IPO of his fintech company, Ant Group, in 2020. His return to such a prominent business event could be seen as a signal that Beijing is willing to ease tensions with the private sector.
Beyond Ma, other influential business figures are expected at the symposium, including:
- Pony Ma, CEO of Tencent
- Lei Jun, CEO of Xiaomi
- Wang Xingxing, founder of Yushu Technology
- A senior executive from Huawei
The participation of these leaders suggests the government is looking to rekindle trust and cooperation with China’s private enterprises, particularly in the technology sector.
Market Reaction: Stocks Surge on News
News of the symposium has already sparked positive reactions in the stock market. Shares of Alibaba, Tencent, and Xiaomi saw significant gains following the report, with Xiaomi hitting a record high, up 7%, while Alibaba and Tencent climbed 6%. This surge reflects investor optimism that the Chinese government may adopt a more supportive stance toward the private sector.
What’s Next for China’s Business Climate?
Xi Jinping’s renewed engagement with business leaders could mark a turning point for China’s economic strategy. However, whether this meeting leads to concrete policy shifts—such as relaxed regulations or financial incentives—remains to be seen. The government’s focus on “common prosperity” suggests that while private businesses are encouraged to thrive, they are also expected to align closely with national goals, including equitable wealth distribution and responsible corporate governance.
With Jack Ma back in the picture and major tech players at the table, this symposium is more than just a business meeting—it could redefine the future of China’s private sector.
