(Reuters) -China’s President Xi Jinping spoke on Monday at a symposium about private companies attended by Tech entrepreneurs, including co -founder of Alibaba, Jack Ma, said state media, but gave no specific details.
Last week Reuters reported that the symposium was intended to stimulate the sentiment of the private sector, with XI expects to encourage managers to expand their companies despite a deepening of the technical war in China.
Here are comments about the meeting:
Charlie Chai, a Shanghai -based analyst at 86research:
“We believe that the event is likely to be followed by concrete pro technology policy. Potential movements include shifting the focus of ‘national security risks and social external effects’ to a more risky approach to technological application.
“(This would) may include accelerating the massive use of generative AI, autonomous driving and humanoid robotics.
“Likewise, securities rulers will probably take a more accommodating attitude, giving technology companies more access to capital markets to finance growth, which could help to resolve uncertainties about mention and re -listening time (eg Didi, Ant, Temu).”
Alfredo Montufar-Helu, Head Tank The China Center of the Conference Board:
“That President XI was chairman of this symposium indicates a recognition of China’s top party leadership of the important role that Chinese private companies can play in the support of growth, and, more importantly, in realizing China’s technological ambitions in the Light of the growing Western limitations. “
“We need to expect more support to the private sector, especially in areas of strategic importance for the country.
“Despite their mistakes, Deepseek now, and Huawei’s Kirin Chip earlier, send a strong message to the West: that China not only has the intention, but also the means and the ability to innovate his way from technology restrictions, no matter how expensive.”
Fred Hu, founder and chairman, Primavera Capital Group, Hong Kong:
“The meeting of President Xi with Chinese private entrepreneurs clearly represents an important course correction.
“The private sector, long the backbone of the Chinese economy and the most important growth motor, has been battered in recent years by the assembly policy and the legal uncertainties, with serious consequences for the Chinese economy, and even worse, for his labor market with rising youth unemployment.
“The well -published meeting of leadership with some of the most controversial entrepreneurs in the country, such as Jack Ma, could not come at a more critical moment.
“It should help to make rattling entrepreneurs chatter and to eliminate the confidence of companies and investors in China.”
Tom Nunlist, associate director at Policy Research Consultancy Trivium China:
“The technical performance has been over for some time and the government is trying to increase confidence for the private sector and the technical sector in particular.
“There has been some continuous skepticism, because at the end of the day it is the opinion of Xi Jinping that is most important. You can’t do better than give Xi Jinping the kink of approval personally.
“I think it took so long to have this meeting because XI changes course.”
Xiaoyan Zhang, chairman of professor of Finance, Tsinghua University, Beijing:
“I think the purpose of the meeting is to ensure that the private sector, for the stability and for the growth of the economy, understands a very important part of the economy.
“I think the goal is to tell them:” We want to support you. We need you to stimulate innovation, technological innovation and we need you to stimulate consumption. “I think (the goal is) to inject confidence in that.”
Gary NG, senior economist for Natixis, Hong Kong:
“Despite the rising chances in the case of Deepseek, it is also about leading the private sector in the direction led by the government and containing the potential risks to compete with the United States.
“The market reads it as a positive signal to include Jack Ma in such a meeting and hope at the end of the technical performance. Yet the regulatory environment is the black box.
“Because most AI development takes place in the private sector, we cannot fully exclude the outcome of a tighter-Dan-Market-Affairs regulatory environment than we see now.”
Christopher Beddor, deputy China Research Director, Gival Dragonomics, Hong Kong:
“I think it is a tacit recognition that the Chinese government needs private companies for its technical rivalry with the United States.
“Policy makers would probably prefer if industrial policy planning and state companies are able to make innovative breakthroughs to the technological limit.
“But the disturbing innovations come from companies in the private sector. The government has no other choice than to support them if it wants to compete with the United States.
“His (Jack Ma’s) presence would be enormously symbolic of how the government’s position in relation to the technology sector has changed. If one person is associated with the technical performance, it is Jack Ma.
“Regarding the signal – we have previously seen XI perform this PlayBook. He clearly wants to send a message that the government is now supporting the technology sector.
“It is more or less a total reversal of the policy position a few years ago.”
(Reporting by Beijing, Shanghai, Hong Kong and Singapore Newsrooms; Edit by Gerry Doyle and Clarence Fernandez)
