Xi Jinping to Chair Key Meeting with Top Chinese Business Leaders, Including Jack Ma
Chinese President Xi Jinping is set to chair a rare symposium next week aimed at boosting private sector confidence, according to sources. The high-profile event will be attended by some of China’s leading business figures, including Alibaba co-founder Jack Ma, Tencent CEO Pony Ma, and Xiaomi CEO Lei Jun.
Symposium to Bolster Business Sentiment Amid Economic Challenges
The symposium, expected to take place on Monday, underscores the significant challenges facing China’s private sector. These include growing tensions with the United States under President Donald Trump and slowing domestic economic growth.
Sources revealed that President Xi will encourage business leaders—particularly from the tech sector—to expand their operations both domestically and internationally. This push comes as the Sino-US technology rivalry intensifies.
The event will bring together key figures from major companies, including executives from Huawei and robotics firm Yushu Technology. Reuters spoke with five individuals familiar with the symposium, though all declined to be named as they were not authorised to discuss the event publicly.
Market Response and Business Relevance
News of the symposium had an immediate positive impact on the stock market. Shares in Alibaba, Tencent, and Xiaomi all rose on Friday. Xiaomi’s stock surged by 7%, reaching a record high, while Alibaba and Tencent saw gains of around 6%.
This will be Xi’s second major symposium for the private sector since coming to power in 2012. His first, held in 2018, focused on supporting private businesses with tax cuts and promises of a level playing field.
Jack Ma’s Return Sparks Optimism
Jack Ma’s anticipated presence at the symposium is significant. The once high-profile entrepreneur retreated from public life after authorities halted the IPO of his fintech company Ant Group in 2020, following a critical speech about China’s regulatory system. His absence symbolised the government’s tightened control over the private sector and the broader tech industry.
His return to a government-led forum could help restore business confidence. Many see it as a signal of potential easing in the regulatory environment and a more supportive stance toward private companies.
Common Prosperity and the Future of Private Business
In recent years, President Xi has promoted the idea of “common prosperity,” urging private companies to share their wealth equitably with employees and society. His comments have been seen as a call for businesses to focus less on aggressive growth and more on social responsibility.
This symposium may serve as a platform for Xi to reinforce that message while encouraging sustainable growth and greater international competitiveness among China’s private firms.
with inputs from Reuters
