Xi Jinping Engages Business Titans to Ignite China's Economic Engine

Chinese President Xi Jinping delivered a speech to prominent business leaders like Jack Ma and Ren Zhengfei, aiming to invigorate the private sector amid U.S. tensions. The symposium discussed boosting business expansion despite the challenges posed by semiconductor export controls and U.S.-China tech rivalry.

BEIJING, Feb 17 (Reuters) - Chinese President Xi Jinping addressed a high-powered gathering of private business leaders in Beijing, with the focus on revitalizing China's economic prospects amid ongoing tensions with the United States.

Among the notable attendees were Alibaba's Jack Ma and Huawei's Ren Zhengfei, who joined to discuss the expanding role of private enterprises in the tech rivalry with the U.S. Xi's speech underscored the government's reliance on private firms to fortify China's position in global technology. He encouraged business leaders to pursue growth both domestically and internationally.

The symposium, held at the Great Hall of the People, also highlighted issues like the impact of export controls on semiconductors imposed by Washington. With investor interest piqued by AI advancements like DeepSeek, Xi emphasized China's need for greater self-sufficiency in key technologies to maintain its competitive edge.