Xi promises Jack Ma and China's private tech bigwigs 'unwavering' support

Meeting signals Alibaba billionaire is in from cold as Beijing seeks to fire up growth

20250217 jack ma

Footage aired by Chinese state TV shows Alibaba founder Jack Ma, center, clapping as President Xi Jinping enters for a Feb. 17 meeting with private-sector executives, mainly tech entrepreneurs. (Screenshot from CCTV)

CISSY ZHOU and STELLA YIFAN XIE

HONG KONG -- Chinese President Xi Jinping met with a group of prominent private entrepreneurs including billionaire Jack Ma on Monday, a sign that Beijing sees the technology industry as a key spark for firing up sluggish economic growth.

Footage shown on Chinese state media confirmed the attendance of Ma, founder of the e-commerce conglomerate Alibaba, who was once thought to be in the government's doghouse. The meeting was chaired by Xi's top adviser, Wang Huning, and also joined by Premier Li Qiang and Vice Premier Ding Xuexiang.

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