Xi Engages Leading Entrepreneurs in Symposium Aimed at Revitalizing Private Sector Confidence
Chinese President Xi Jinping hosted a high-profile symposium on Monday at Beijing’s Great Hall of the People, addressing more than a dozen founders and chief executives from some of the country’s largest private companies.
The event is seen as part of Beijing’s effort to bolster private sector sentiment amid ongoing economic challenges.
Among the prominent attendees was Jack Ma, co-founder of Alibaba, whose presence carries significant symbolic weight. Ma, once one of China’s most outspoken entrepreneurs, has largely stayed out of the public eye following a regulatory crackdown that began in late 2020. Other notable figures included Ren Zhengfei of Huawei, Lei Jun of Xiaomi, Wang Chuanfu of BYD, and the head of CATL, who represents the world’s largest battery maker. Tencent’s Pony Ma and leaders from companies such as Unitree, Meituan, and emerging tech startup DeepSeek were also in attendance.
During the closed-door meeting, President Xi delivered a speech emphasizing his government’s commitment to supporting the private sector through measures like financing assistance, tax relief, and efforts to create a fair competitive environment. The gathering comes at a time when private businesses—which contribute over 60% to China’s GDP and more than 80% of urban employment—have been facing heightened regulatory scrutiny and uncertainty.
Analysts have noted that the symposium may signal a policy shift, as Beijing appears keen to restore entrepreneurial confidence and stimulate innovation after years marked by regulatory intervention. The presence of influential figures from diverse sectors, ranging from e-commerce and telecommunications to electric vehicles and artificial intelligence, underscores the broad base of China’s private industry.
The meeting also arrives against a backdrop of broader economic concerns, including sluggish domestic consumption, an ailing property sector, and increasing international pressures. In this context, officials hope that renewed support for private enterprises will help drive technological innovation and bolster overall economic growth.
Reuters, CNN, CNBC, the Financial Times, the Wall Street Journal, and Forbes contributed to this report.
