Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The Chinese leader meets corporate leaders against the backdrop of economic challenges, including delay and high -youth unemployment.
Chinese President Xi Jinping has met the best corporate leaders, including Alibaba co-founder Jack Ma, a Business Symposium in Beijing, state media reported.
Ever since he came to power more than a decade ago, the XI has consistently sought to strengthen the role of state -owned enterprises in the world's second largest economy and warned against the “brilliant” expansion of the private sector.
But the reports last week states that he is preparing to meet the business luminaries, as he is fighting a delayed economy, obsessed with a real estate crisis, constant low consumption and high unemployment of youth.
The state television operator CCTV announced on Monday that the meeting took place in the large hall of people in Beijing, as a video showing MA, standing and applauding when the XI enters a luxurious room.
CCTV did not give details of the content of the meeting.
The inclusion of MA hints at the potential public rehabilitation of the billionaire after years outside the spotlight after entanglement with regulators.
The former English teacher founded Tech Behemoth Alibaba in 1999 and embedded it into one of the most recognizable and dominant private companies in China.
He once cultivated an outspoken public figure, but failed in his pronouncements by the end of the last decade, as the XI observed an extensive repression of once harmless technology and internet platforms in the country.
In 2020, authorities canceled the IPO of the Alibaba Affiliate Ant Group blockbuster at the last moment – more special after MA made a speech criticizing the regulators.
MA is no longer CEO at Alibaba, but is thought to retain a significant share in the company, although it has spent the last few years focusing on philanthropy and rural education.
Alibaba, which is expected to publish its latest report on quarterly profits this week, has seen that more than 40 percent have been rising so far this year.
Other participants in the Monday Summit included Ren Jengfei, the founder of Tech Titan Huawei – and Wang Chuanfu, who created a giant of electric vehicles by BYD.
CCTV broadcasts XI, Ren and Wang videos that turned to the match but did not immediately provide audio or written details of what was said.
Robin Zeng, the founder of the Powerhouse Catl battery, and Wang Xing, co -founder of the Internet platform Meituan, were also present.
China is struggling to maintain a strong recovery from the pandemic, and last year the economy grew by 5 percent, which has been among the slowest extensions for decades.
Beijing is expected to go to a similar level of growth in 2025, but can face winds as US President Donald Trump is renewing his hard -ball policy with huge rates.
Trump has already announced additional 10 percent levies for all imports from China, with Beijing immediately hitting their own tariffs aimed at coal and gas.
