Beijing, China – 6 February: Chinese President Xi Jinping (C) speaks during a bilateral meeting with Brunei Sultan Hasanal Bolkia (not painted) in the Great Hall in Beijing, China on 6 February 2025.
Andres Martinez Casaras | Getty Image News | Getty images
Chinese President Xi Jinping gave a speech in a seminar with prominent entrepreneurs on Monday, State Media XinhuaAt a time, signaling support for the private sector when the country’s economy is facing several headwinds.
The presence of XI in the seminar sends private sector entrepreneurs to “a very clear sign of top-level support”, Asia’s economist Peiqian Liu, CNBC said, “It probably,” it is probably animal sentiments about renewable growth pace in China And will rule optimism.
“This may be more powerful than potentially fiscal stimuli, policy makers should show more decisive support for the development of the technical field in China,” Liu said.
Beijing has demanded a shortage of domestic consumption, a prolonged real estate recession and tariffs on its export by external headwinds to drag their economy.
The Chief Economist of LNG said that the meeting said that the meeting states that it could be a symbolic turn for the Chinese technical sector after a high level of investigation in the meeting. risk.
This may mean that “the regulator overhang we have for the last two years is finally,” said Andy Manard, the managing director in the China Renaissance and head of equities.
According to a video clip released by the Chinese state media, Jack Ma, the founder of Alibaba, was one of the entrepreneurs present at the meeting.
Following its public criticism of the country’s regulatory system, since the initial public offer of a blockbuster of the Alibaba Group affiliated ant group in November 2020, the vocal businessmen have mostly been out of public eyes.
Other entrepreneurs participating in the meeting included Ren Zhengfei, founder and chief executive officer of Huawei Technologies and Lei June June, the founder and CEO of Consumer Electronics Manufacturer Ziaomi.
Beijing started a regulatory storm against the country’s major technology companies at the end of 2020, which they were growing very large and powerful.
Manard said that MA’s possible return could strengthen the hope that Beijing is softening its approach on large technical companies.
The mainland changed slightly after China’s CSI 300 index news.
Hang Seng Tech Index, which had jumped over 5% on the media reports of the meeting last Friday, declined 0.11% on Monday.
