Chinese leader Xi Jinping's recent meeting with top tech executives demonstrates a significant shift towards supporting the private sector, which has faced increasing scrutiny in recent years. During the meeting, Xi encouraged CEOs to showcase their talents and removed barriers to fair competition in the market. Key executives present included Jack Ma, Pony Ma, and Wang Chuanfu, all of whom play vital roles in China's tech landscape. Following this meeting, Chinese tech shares surged, suggesting a positive reception of Xi's pro-business message and an acknowledgment of the private sector's role in stimulating the economy.
"It is necessary to resolutely remove all kinds of obstacles to the equal use of production factors and fair participation in market competition," Xi declared during the meeting.
"Beijing should continue to promote the fair opening of the competitive field of infrastructure to all kinds of business entities," Xi emphasized, highlighting his commitment to private enterprise.
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