financetom
Business
financetom
/
Business
/
QUOTES-What's the significance of Xi's meeting with private enterprises?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
QUOTES-What's the significance of Xi's meeting with private enterprises?
Feb 16, 2025 9:33 PM

Feb 17 (Reuters) - China's President Xi Jinping has

delivered a speech at a symposium on private enterprises

attended by tech entrepreneurs including Alibaba ( BABA )

co-founder Jack Ma, official media reported on Monday.

There were no specific details about the symposium.

Reuters reported last week that the symposium is aimed at

boosting private-sector sentiment, and Xi was expected to

encourage executives to expand their businesses domestically and

internationally amid a deepening China-U.S. technology war.

Here's what people are saying about the meeting:

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 U.S.

"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 U.S. 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 U.S. 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, and in turn instill confidence

among tech entrepreneurs. It's more or less a total reversal of

the policy stance from a few years ago, when officials vowed to

curb the "disorderly" expansion of capital.

"But we know that Xi is concerned about the tech sector,

based on his striking public remark last year about the

declining number of unicorns."

ALFREDO MONTUFAR-HELU, HEAD OF THINK TANK THE CONFERENCE

BOARD'S CHINA CENTER:

"After DeepSeek, Beijing is showing it understands that

innovation and growth from the private sector, especially tech

companies, is the best way forward for economic growth."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Skating-Tight-knit US skating community mourns 'bright future' after loss of young stars
Skating-Tight-knit US skating community mourns 'bright future' after loss of young stars
Jan 31, 2025
NEW YORK, Jan 31 (Reuters) - In one of his last TikTok posts before boarding a doomed flight to Washington, 16-year-old Spencer Lane shared with his 47,000 followers a video of a silky smooth triple toe loop he nailed at U.S. National Development Camp in Wichita. It was the sort of move that had earned him his crown as U.S....
Trump to meet with Nvidia CEO, White House official says
Trump to meet with Nvidia CEO, White House official says
Jan 31, 2025
WASHINGTON, Jan 31 (Reuters) - U.S. President Donald Trump will meet with Nvidia ( NVDA ) chief executive Jensen Huang at the White House on Friday, a White House official said on the condition of anonymity. ...
WW Grainger sees 2025 profit, revenue below estimates on weak demand
WW Grainger sees 2025 profit, revenue below estimates on weak demand
Jan 31, 2025
Jan 31 - Industrial maintenance and safety products supplier WW Grainger ( GWW ) on Friday forecast annual profit and revenue below Wall Street expectations, after missing the estimates for fourth-quarter results, citing a muted demand environment. Shares of the company, which provides tools and industrial products to home improvement retailers, construction businesses and aerospace manufacturers, were down 6.8% in...
Charter Beats Earnings Estimates: Mobile Growth Surges,  Broadband Subscriber Losses, Network Investments, Mobile & Ad Sales Increase
Charter Beats Earnings Estimates: Mobile Growth Surges, Broadband Subscriber Losses, Network Investments, Mobile & Ad Sales Increase
Jan 31, 2025
Charter Communications Inc ( CHTR )  reported fiscal fourth-quarter 2024 revenue growth of 1.6% year-on-year to $13.93 billion, beating the analyst consensus estimate of $13.88 billion. EPS of $10.10 beat the analyst consensus estimate of $9.22. The stock price gained after the results. Also Read: Check Point Q4 Earnings: Revenue And EPS Beat, Security Subscriptions Surge, Expands Cybersecurity Offerings Despite Margin Pressure The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved