Jack Ma meets XI: Alibaba founder under China's tech elite

Von WOM

in Beijing, China's leading head of state XI Jinping invited Alibaba co-founder Jack Ma and the top representatives of the tech industry on Monday. This event indicates that the government may take a change of course towards a more corporate -friendly policy after strict regulations above the sector have been grown for several years.

participant of the meeting

In addition to Jack Ma, other sizes of the economy were also present, including the Huawei founder Ren Zhengfei, BYD CEO Wang Chuanfu, Catl-CEO Zeng Yuqun, Baidu-CEO Robin Li and Xiaomi CEO Lei Jun.

upswing in the tech industry

The symposium about private companies takes place just a few weeks after the success of the Chinese startup Deepseek. Its latest AI model caused a stir worldwide by generating comparable services such as the large US companies at significantly lower costs. This success evokes optimism in China's technology market, which continues to recover after a more than three -year strict regulatory phase.

background of the regulations

The wave of regulatory started at the end of 2020 after Jack Ma sharply criticized the Chinese financial supervisory authorities and banks in a striking speech. These statements solved the In the history of corporate regulation China, which also affected other technology giants such as Tencent, who has affected the ride-in-law Didi and the Meituan food delivery service. Since then, Ma, who previously occurred in public, largely disappeared . .

new perspectives for the economy

MA’s participation in the meeting with XI indicates that the authorities may now go over the strict regulations, since the concerns about its corporate empire have largely been clarified. This explains Angela Huyue Zhang, professor of law at the University of Southern California, who wrote a book on China's regulation of tech companies.

government relies on private companies

"With the cooling of the inland economy and increasing geopolitical pressure, the government makes it clear that it appreciates the private sector and rely on promoting innovation and growth," said Zhang. The time of the meeting is important because he signaled a "new attempt to support private companies, especially in the technology sector, and to restore entrepreneurial trust," she added.

stock exchange reaction and outlook

On Friday, the Hang Seng China Enterprises Index, who follows important Chinese companies, rose to the highest level since the beginning of 2022 after the news about the upcoming symposium was first reported by Reuters.

This story is still under development and is continuously updated.