Beijing, China – February 6: Chinese President Xi Jinping (C) speaks at a bilateral meeting with Brunei Sultan Hassanal Bolkiah in Beijing, China on February 6, 2025 .
Andres Martinez Casares | Getty Images News | Getty Images
According to Chinese President Xi Jinping’s speech at a seminar with famous entrepreneurs on Monday. National Media Xinhua News Agencymarks a shift toward resupport from the private sector.
Peiqian Liu, an Asian economist at Fidelity International, told CNBC that the conference sent a “very clear top support signal” to private-sector entrepreneur Peiqian Liu, “which could restart animal spirit and optimism about China’s new growth momentum.”
“If policymakers have more decisive support for the development of China’s technology sector, it may be more powerful than fiscal stimulus,” Liu added.
Beijing has been struggling to cope with domestic consumption, long downturns in real estate and external headwinds (such as export tariffs).
Lynn Song, chief economist at liquefied natural gas, said the meeting could mark a “symbolic turning point in China’s science and technology sector after years of scrutiny” and that the timing of the meeting underlined the urgency of Beijing. , fueling the private sector risks in economic discomfort and external tariffs.
This could mean “our regulatory overhang over the last two years or so is the end.”
Reuters reported last week that Alibaba founder Jack Ma may be one of the entrepreneurs invited to the conference. Maynard said that the potential return of Massachusetts could intensify expectations that Beijing is mitigating the approach that big tech companies are doing, Manard said.
Beijing launched a regulatory storm against the country’s large technology companies in late 2020, out of concerns that their development is too big and strong.
After the news, the CSI 300 index in mainland China has hardly changed.
