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."