Xi Jinping to Rally Private Sector in High-Stakes Symposium

Chinese President Xi Jinping plans to chair a symposium focused on boosting private sector confidence amidst ongoing challenges, attended by business leaders like Jack Ma. This rare initiative aims to address issues facing China Inc, including U.S.-China tensions and technology sector growth.

In an unprecedented move, Chinese President Xi Jinping is set to lead a symposium next week, aimed at bolstering sentiment within the private sector.

The symposium, which will be attended by prominent business figures including Alibaba's Jack Ma, highlights the multifaceted challenges China faces, not least of which are the ongoing tensions with the United States and a stagnant domestic economy. With many participants hailing from the tech industry, Xi is anticipated to encourage strategic expansion, both domestically and internationally, as the Sino-U.S. tech rivalry heats up.

The event is expected to take place on Monday, drawing notable attendees such as Tencent CEO Pony Ma and Xiaomi CEO Lei Jun. An insider revealed that an executive from Huawei will also be present. Though Reuters reached out to the State Council Information Office and the companies involved, no comments were available.

(With inputs from agencies.)