By MLex Staff ( February 18, 2025, 08:29 GMT | Insight) -- Chinese President Xi Jinping has called for concrete steps and solid policy implementation to boost the private economy at a high-level meeting with private sector entrepreneurs. Xi's meeting with "old, middle-aged, and young" private entrepreneurs, including Huawei's Ren Zhengfei, Alibaba's Jack Ma, and DeepSeek's Liang Wenfeng, has garnered significant public and market attention.Chinese President Xi Jinping has called for concrete steps and solid policy implementation to boost the private economy at a high-level meeting with private-sector entrepreneurs. The initiative outlined in yesterday's meeting reflects Beijing's intensified efforts to restore economic confidence amid sluggish growth and geopolitical challenges. Xi's meeting with "old, middle-aged, and young" private entrepreneurs, including Huawei's Ren Zhengfei, Alibaba's Jack Ma, and DeepSeek's Liang Wenfeng, has garnered significant public and market attention. From semiconductors to artificial intelligence, new energy, robotics, consumer electronics and traditional dairy production, the participation of industry representatives from these sectors has been widely interpreted as highlighting China's strategic industrial priorities. During the meeting, Xi emphasized the need to dismantle barriers that hinder the equal use of production factors and fair-market competition. He committed to continuously opening competitive infrastructure sectors to all types of business entities. The meeting's timing is notable, coming ahead of China's annual Two Sessions, where relevant legislation is expected to be advanced. Of particular significance is a draft law on promoting the private economy, scheduled for its second reading by the country's top legislature next month, after an initial deliberation last December. The legislation represents China's first foundational law specifically addressing the private sector. With fair competition as a central focus, its public consultation draft also outlined measures to promote investment and financing, boost technological innovation, and protect the economic rights of private companies and entrepreneurs (see here). Yesterday's meeting, attended by Alibaba’s founder Jack Ma and Meituan's founder Wang Xing, marks another clear signal of the government's evolving approach toward the online-platform economy. China’s antitrust campaign against online tech giants, which led to record antitrust fines for Alibaba and Meituan in 2021, has eased as Beijing balances market oversight with economic growth amid concerns over excessive regulation. Last August, the State Administration for Market Regulation, or SAMR, announced Alibaba completed its three-year compliance rectification. — Role of private enterprises — In his speech, Xi called on private enterprises and entrepreneurs to contribute to spur technological innovation, develop new productive forces, and ensure and improve people’s livelihoods, while urging them to operate legally. Reflecting these priorities, the meeting's composition markedly differed from the 2018 symposium, with strong representation from emerging technology sectors. In addition to representatives from DeepSeek, a Chinese dark horse reshaping the global AI landscape, intelligent speech and AI company iFLYTEK, AI chip designer Cambricon Technologies and chip designer Will Semiconductor were prominent attendees. Wang Xingxing, founder of robotics firm Unitree — Boston Dynamics’ China rival — received a front-row seat and speaking role, highlighting Beijing's emphasis on humanoid technology. The gathering also included representatives from cybersecurity and aerospace companies. -Analysis by Yang Yue and Wang JuanPlease email editors@mlex.com to contact the editorial staff regarding this story, or to submit the names of lawyers and advisers....