Fri, 21 Feb 2025

Fri, 21 Feb 2025 What does Jack Ma's return to the spotlight in China mean?

Analysts say the Alibaba founder's re-emergence could signal a policy change in Beijing.

* The meeting was seen as a positive sign for Ma, who had withdrawn from public life after criticizing China's financial sector in 2020.
* Tech stocks, including Alibaba, surged after the meeting, with shares rising by over 8% on Thursday.
* Analysts believe that Ma's attendance at the event indicates he has been rehabilitated and is no longer a target of Beijing's crackdown on tech companies.
* The Chinese government is trying to pivot from crackdowns to controlled engagement with the private sector, according to Marina Zhang, an associate professor at the University of Technology Sydney.
* The meeting comes as China's economy faces challenges, including slowing growth, job scarcity for young people, and a downturn in the property sector.
* Xi Jinping told participants at the symposium that companies needed to innovate, grow, and remain confident despite China's economic challenges.
* The Chinese president emphasized the importance of technology and private enterprises in driving China's economic development and growth.
* The meeting has sparked hopes that Beijing will give more freedom to the private sector to drive innovation and growth.
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