China's Xi meets with business leaders, including Alibaba co-founder Jack Ma, to boost economy

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..... China's Xi meets with business leaders, including Alibaba co-founder Jack Ma, to boost economy
PTI News
Dated:- 17-2-2025
PTI
Bangkok, Feb 17 (AP) China's President Xi Jinping met with private sector business leaders on Monday, state media reported, as government officials work to revive an economy disrupted by a pandemic, regulatory crackdowns and a real estate crisis. Among the dele .....

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..... gates was Jack Ma, who founded e-commerce firm Alibaba in the 1990s and was once China's richest man. He has kept a low profile with few public appearances in recent years after he publicly criticised China's regulators and financial systems during a speech in Shanghai. Other business leaders at Monday's meeting in Beijing were Zeng Yuqun, the chairman of battery developer CATL, Wang Chuanfu, cha .....

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..... irman of electric cars manufacturer BYD, and Pony Ma, the CEO of Tencent, which owns WeChat, according to a video of the meeting from state broadcaster CCTV and a state media report. According to the state media report, Xi made “important remarks” to the gathered delegates, without giving further details. The short two paragraph report which originally had been carried by state media was subseque .....

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..... ntly deleted. Instead, a search online revealed shorter state media statement which had cut out the names of those present. Ma, one of the wealthiest men in the country, gave a speech in Oct 2020 in which he said regulators were too conservative. The government responded by scuttling his plans for Ant Group 's stock market debut, the finance-focused business which grew out of Alipay, the popular .....

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..... digital payments system. They also then forced Ant Group to restructure, dividing it into multiple independent businesses. Alibaba was also investigated and fined $2.8 billion for breaching antitrust rules. (AP) AMS
News - Press release - PIB .....

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