Jack Ma re-emerges from oblivion: Alibaba founder joins Xi Jinping in high-stakes tech summit, is he back in Chinese President’s good books?

Chinese President Xi Jinping has held a meeting with Chinese tech tycoons including Alibaba's Jack Ma, as per a report.

Ma, the co-founder of Alibaba and one of China's most recognisable businessmen, was pictured applauding Xi as he entered the venue in Beijing. State media did not report any remarks by Ma, AFP reported.



State media footage showed that the participants also included Tencent chief Pony Ma and Liang Wenfeng, founder of DeepSeek, the artificial intelligence firm whose chatbot has caused a global stir in recent weeks.


Alibaba founder's absence from public view in the fag end of 2020 fueled social media speculation over his whereabouts at a time when Chinese regulatory reportedly authorized a clampdown on his sprawling business empire.


In October 2020, Ma, the China's highest-profile entrepreneur, blasted China's regulatory system in a speech at a forum in Shanghai. Subsequently, there was the suspension of a $37 billion IPO of Alibaba's Ant Group fintech arm.


In April 2024, Ma was once again back in the public forum as he lauded Alibaba's transformation.


Meanwhile, Chinese business luminaries lined up to express confidence in the country's embattled private sector following rare talks with President Jinping this week, state media reported Tuesday.


State news agency Xinhua reported that the Chinese leader said the problems facing private firms were 'surmountable'.


China is battling slowing economic growth amid a real-estate crisis, persistently low consumption and high youth unemployment. State media broadcast a procession of business luminaries at the meeting proclaiming their faith in the future of the private economy, as per an AFP report.


Beijing has rolled out a slew of policies to create jobs and get people to spend more in order to boost growth, but they have had a limited effect so far.


President Xi portrayed private sector challenges as a result of reform and industrial transformation but said they were temporary and "surmountable rather than unsolvable".

The President urged attendees on Monday to "unify thought and action" around the ruling Communist Party's economic policies, "see the prospects, see the light, and see the future".

FAQs

Q1. Who is China's President?
A1. China's President is Xi Jinping.

Q2. Who is founder of DeepSeek?
A2. Founder of the artificial intelligence firm DeepSeek is Liang Wenfeng.