Chinese President Xi Jinping’s meeting with business leaders, including Alibaba founder Jack Ma, sparks speculation about a shift in policy toward the tech sector and potential rehabilitation of Mr. Ma.
A meeting between Chinese President Xi Jinping and some of the country’s foremost business leaders has sparked excitement and speculation, with Alibaba founder Jack Ma in attendance. The charismatic entrepreneur had withdrawn from public life after criticizing China’s financial sector in 2020.
Jack Ma is a Chinese business magnate and philanthropist.
Born in 1964, Ma grew up in a poor village in Zhejiang Province.
He began his career as an English teacher but eventually founded Alibaba Group in 1999.
The e-commerce platform quickly gained popularity, and Ma became one of China's richest men.
In 2013, he stepped down as CEO, but remains the executive chairman.
Ma has also founded other successful companies, including Ant Financial and Alibaba Pictures.
Analysts believe that Mr. Ma’s reappearance at the symposium is a positive sign for him, indicating that he has been rehabilitated. His seating in the front row and handshake with President Xi Jinping are seen as clear signs of his rehabilitation. Social media users have also praised Mr. Ma’s return to the public spotlight, calling it a ‘shot in the arm‘ for the current Chinese economy.
Mr. Ma’s return could signal a change in policy toward the technology sector. Analysts say that his presence suggests that China’s leadership is willing to let the private sector have a freer hand, rather than imposing strict regulations. The list of guests at the symposium, which included key figures from companies such as Huawei and BYD, highlights the importance of innovation and achievement in China’s economy.
China's technology sector policy is a multifaceted and rapidly evolving area.
The government has implemented various policies to promote domestic tech industries, including the Made in China 2025 initiative.
This plan aims to boost high-tech manufacturing by investing in sectors like artificial intelligence, robotics, and semiconductors.
Additionally, China has established special economic zones (SEZs) to attract foreign investment and foster innovation.
However, these policies have also raised concerns about intellectual property protection and market access for foreign companies.
The symposium took place after the country experienced a ‘Sputnik moment‘ – the arrival of DeepSeek‘s disruptive R1 artificial intelligence model. The Chinese-made AI chatbot has sparked national pride and investment in Chinese stocks, particularly those of tech companies. Investment banking giant Goldman Sachs has also upgraded its outlook for Chinese stocks, citing rapid AI adoption as a key driver.
DeepSeek AI is an artificial intelligence-powered underwater exploration system designed for research and discovery.
Developed by the University of California, Berkeley, this technology utilizes a robotic submersible equipped with advanced sensors and cameras to map and analyze ocean environments.
The AI component enables real-time data processing, object detection, and navigation, allowing for more efficient and accurate exploration.
DeepSeek AI has potential applications in marine biology, geology, and environmental monitoring.
President Xi Jinping‘s emphasis on ‘high-quality development’ and ‘new productive forces‘ suggests a shift away from unregulated growth. The goal is to achieve ‘socialist modernisation’ by 2035, with higher living standards for everyone and an economy driven by advanced manufacturing and less reliant on imports of foreign technology.
Rather than marking the end of tech sector scrutiny, Mr. Ma’s reappearance suggests that Beijing is pivoting from crackdowns to controlled engagement. The private sector remains a critical pillar of China’s economic ambitions, but it must align with national priorities – including self-reliance in key technologies and strategic industries.
