Xi Jinping engaged in a significant meeting with notable corporate leaders, including Jack Ma, amid economic uncertainties and tensions from U.S. tariffs. This gathering is seen as a sign of support for the private sector, which has struggled under increased regulation and preference for state-owned enterprises. Attendance from key figures like Huawei's and Xiaomi's heads indicates a potential shift in policy focus towards fostering private innovation, as reflected in recent market responses and discussions on Chinese social media regarding the implications of such a meeting for future economic policies.
The gathering between Xi Jinping and corporate leaders, including Jack Ma, symbolizes a potential shift towards supporting private business amidst economic challenges.
According to Fred Hu, the meeting marks a 'symbolic course correction' for the private sector, which has faced increased regulations in recent years.
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