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Feb 17 (Reuters) - China's President Xi Jinping spoke on
Monday at a symposium on private enterprises attended by tech
entrepreneurs including Alibaba ( BABA ) co-founder Jack Ma,
state media said, but gave no specific details.
Last week Reuters reported the symposium aims to boost
private-sector sentiment, with Xi expected to encourage
executives to expand their businesses despite a deepening
China-U.S. tech war.
Here are comments about the meeting:
CHARLIE CHAI, A SHANGHAI-BASED ANALYST AT 86RESEARCH:
"We believe the event will likely be followed by concrete
pro-technology policies. Potential moves include shifting focus
from 'national security risks and social externalities' to a
more risk-taking approach to technology application.
"(This would) include potentially accelerating the mass
deployment of generative AI, autonomous driving, and humanoid
robotics.
"Similarly, securities regulators are likely to adopt a more
accommodative stance, allowing technology companies greater
access to capital markets to finance growth, which could help
resolve uncertainties around listing and re-listing timelines
(e.g., Didi, Ant, Temu)."
ALFREDO MONTUFAR-HELU, HEAD OF THINK TANK THE CONFERENCE
BOARD'S CHINA CENTER:
"That President Xi chaired this symposium signals a
recognition from China's top party leadership of the significant
role that Chinese private firms can play in the support of
growth, and, more importantly, in realising the technological
ambitions of China in the face of growing Western restrictions."
"We should expect more support to the private sector,
especially in areas of strategic importance for the country.
"Despite their flaws, DeepSeek now, and Huawei's Kirin chip
before, send a strong message to the West: that China not only
has the intention but also resources and capacity to innovate
its way out of technology restrictions, no matter how costly."
FRED HU, FOUNDER & CHAIRMAN, PRIMAVERA CAPITAL GROUP, HONG
KONG:
"President Xi's meeting with Chinese private entrepreneurs
clearly represents a major course correction.
"The private sector, long the backbone of the Chinese
economy and the most important growth engine, has been battered
in recent years by mounting policy and regulatory uncertainties,
with dire consequences to China's economy, and worse, to its
labour market with rising youth unemployment.
"The leadership's well-publicised meeting with some of the
country's most high-profile entrepreneurs, such as Jack Ma,
could not come at a more critical juncture.
"It should help reassure rattled entrepreneurs and lift up
business and investor confidence in China."
TOM NUNLIST, ASSOCIATE DIRECTOR AT POLICY RESEARCH
CONSULTANCY TRIVIUM CHINA:
"The tech crackdown has been definitively over for some time
and the government has been trying to push increased confidence
for the private sector, and tech sector, in particular.
"There's been some continued scepticism because at the end
of the day it's Xi Jinping's opinion that matters most. You
cannot do better than having Xi Jinping personally give the nod
of approval.
"I think it took so long to have this meeting because Xi is
changing course."
XIAOYAN ZHANG, CHAIR PROFESSOR OF FINANCE, TSINGHUA
UNIVERSITY, BEIJING:
"I think the meeting's purpose is to make sure that the
private sector understands, for the stability and for the growth
of the economy, they are a very important part of the economy.
"I think the purpose is to tell them, 'We want to support
you. We need you to boost innovation, technological innovation,
and we need you to boost consumption.' I think (the purpose is)
to inject confidence in there."
GARY NG, SENIOR ECONOMIST FOR NATIXIS, HONG KONG:
"Despite the rising opportunities in the case of DeepSeek,
it is also about guiding the private sector in the
government-led direction 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 for the end of the tech crackdown.
Still, the regulatory environment is the black box.
"As most AI development happens in the private sector, we
cannot entirely rule out the outcome of a
tighter-than-market-expected regulatory environment than we see
now."
CHRISTOPHER BEDDOR, DEPUTY CHINA RESEARCH DIRECTOR, GAVEKAL
DRAGONOMICS, HONG KONG:
"I think it's a tacit acknowledgement that the Chinese
government needs private-sector firms for its tech rivalry with
the United States.
"Policymakers would probably prefer if industrial-policy
planning and state-owned enterprises were able to make
innovative breakthroughs at the technological frontier.
"But the disruptive innovations are coming from
private-sector companies. The government has no choice but to
support them if it wants to compete with the United States.
"His (Jack Ma's) presence would be hugely symbolic of how
the government's stance towards the tech sector has changed. If
there's one person associated with the tech crackdown, it's Jack
Ma.
"As for the signal - we've seen Xi run this playbook before.
He clearly wants to send a message that the government is now
supportive of the tech sector.
"It's more or less a total reversal of the policy stance
from a few years ago."