Xi Invites Tech Leaders Including Jack Ma for Economic Support Meeting

Chinese President Xi Jinping is set to host a meeting next week with prominent entrepreneurs, including Alibaba co-founder Jack Ma and DeepSeek founder Liang Wenfeng, signaling a potential shift in the government's approach toward the private sector after years of scrutiny. This meeting aims to bolster China's economy and encourage participation in key sectors like technology and artificial intelligence, amidst ongoing global trade tensions. The presence of Xi at this gathering, which may include 20 to 30 tech leaders, highlights the government's attempt to support private enterprises and may lead to legislative changes protecting their interests. In the backdrop of these developments, companies such as DeepSeek, which offers a low-cost AI model, are emerging as key players despite facing international challenges. The news of the meeting has already positively impacted the market, with Alibaba shares rising significantly. This move is seen as a response to the slowing economy and a desire to regain momentum in the tech industry.