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Signal to Private Sector? Xi Meets China's Top CEOs
Amid economic problems and international trade conflicts, China's state and party leader Xi Jinping met with the executives of the country's major tech companies. This was reported by the state media of the People's Republic.
Among those present were, among others, Alibaba's chairman Jack Ma, who fell out of favor a few years ago, the founder of the Chinese electric car giant BYD, and Huawei's CEO Ren Zhengfei.
Signal to the Economy
Some observers saw the meeting in Beijing as an intention to send a sign of confidence and support to the private companies of the world's second-largest economy.
China's economy has long been suffering from a consumer weakness caused in part by the severe real estate crisis. In addition, trade disputes with the USA threaten to make business more difficult for companies.
Background unclear
It initially remained unclear what Xi Jinping said to the business leaders. In the past, he has used such meetings to announce, for example, easements for the private sector. Also present at the reception in the Great Hall of the People were high-ranking cadres of the Communist Party, such as Premier Li Qiang and Wang Huning, who is also part of the party's inner leadership circle.
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