The importance of China Xi meeting private companies
(Reuters) – Sheena’s President Xi Jinping spoke on Monday at a private company symposium attended by high-tech entrepreneurs including Alibaba co-founder Jack MA, state media said, but specific He said he had not provided details.
Last week, Reuters reported that the symposium aims to raise private sector sentiment, and XI encourages management to expand its business despite deepening the Chinese-US tech war I’m hoping for this.
Here are some comments about the meeting:
86 Research Shanghai-based analyst Charlie Chai:
“We believe this event is likely to be followed by a concrete protection policy. Potential moves include a more risk-taking approach to technology applications from “national security risks and social externalities.” includes changes in focus to.
“(This includes mass deployment of generated AI, autonomous driving, and potential acceleration of humanoid robotics.
“Similarly, securities regulators are likely to adopt a more regulating attitude, allowing technology companies to promote access to capital markets and fund growth.
Alfredo Montufar-Helu, The Conference Board’s China Center:
“The symposium chaired the symposium, from the leadership of top Chinese parties in key roles that Chinese private companies can play in supporting growth and, more importantly, Western restrictions. It shows China’s technical ambitions will be realized in the face of growth.
“We should expect more support to the private sector, especially in areas of strategic importance to the country.
“Deepseek Now, and Huawei’s Kirin chips, have previously sent a strong message to the West. China has not only intentions, but also its way and ability to get out of technology restrictions.
Fred Who, Founder, Chairman and Chairman of Primavera Capital Group, Hong Kong:
“The encounter between President XI and a private Chinese entrepreneur clearly represents a major course revision.
“The private sector, the backbone of China’s economy and the most important growth engine, has seen a growing uncertainty in policy and regulations in recent years, resulting in disastrous consequences for the Chinese economy and, worse, the rise in young unemployment rates. It has been hit by the accompanying labor market.
“A well-known meeting of leaders with some of the nation’s most well-known entrepreneurs, such as Jack Ma, has not come at a more important time.
“It should help rattle entrepreneurs reassure and boost business and investors’ trust in China.”
Tom Nunlist, Associate Director of Policy Research Consultancy Trivium China:
“The technology crackdown has been a critical end for some time, and the government has been trying to drive increased confidence, especially in the private and technical sectors.
“At the end of the day there was some continuing skepticism, as the most important thing is Xi Jinping’s opinion. There can’t be anything better than giving Xi Jinping a personal nod of approval.
“I think it took some time to hold this meeting as Xi is changing courses.”
“I think the purpose of the conference is to ensure that the private sector is a very important part of the economy for stability and economic growth.
“The purpose is, “We want to support you. We need to support innovation, technological innovation, and we need to promote consumption.” I (the purpose) was to inject confidence into it. I think so. ”
Gary NG, Senior Economist at Natixis, Hong Kong:
“Despite the increased opportunities in the case of Deepseek, it also leads the private sector in a government-led direction and encloses the potential risk of competing with the United States.
“The market reads Jacques Ma as a positive signal to include in such meetings, and is a hope for the end of the technology crackdown. Still, the regulatory environment is a black box.
“Because most AI developments take place in the private sector, we cannot completely rule out the consequences of the expected regulatory environment that are more severe than we’ve seen today.”
Christopher Beddor, Associate Research Director of China, Dividkal Dragonomics, Hong Kong:
“I think it’s an implicit recognition that the Chinese government needs private companies for technical competition with the US.
“Policymakers will probably prefer industrial policy plans and state-owned enterprises if they can make innovative breakthroughs in the technology frontier.
“But disruptive innovation comes from private companies. If the government wants to compete with the US, it has no choice but to support them.
“His (Jack Ma’s) presence would really represent how the government’s attitude towards the technology sector has changed. If there’s one person involved in technology repression, it’s Jack.・This is Ma.
“As far as signalling, we have seen Xi run this playbook before, and he clearly wants to send a message that the government is currently in favor of the technology sector.
“It’s more or less a complete reversal of the policy three-dimensionality that has been around for a few years now.”
(Reporting by newsrooms in Beijing, Shanghai, Hong Kong and Singapore, edited by Gerry Doyle and Clarence Fernandez)
