In a context of economic slowdown, Chinese President Xi Jinping held a meeting on Monday with several private business leaders, which notably marked the rehabilitation of Jack Ma, co-founder of the mastodon of e-commerce Alibaba.
Since coming to power over 10 years ago, Xi Jinping has sought to strengthen the role of state businesses in the second world economy and warned of sometimes “disorderly” expansion in the private sector.
But from last week, press information reported an imminent meeting between Xi Jinping and personalities from the business world. It intervenes in a particular context: China is faced with an economy in loss of speed, prey to a real estate crisis, with a consumption of households always sluggish and a high unemployment rate among young people.
CCTV public television reported that the meeting took place this Monday at the Palais du Peuple, a traditional place of major political and diplomatic meetings, located in the heart of Beijing.
A video jack my standing, applauding with other participants when Xi Jinping enters a large room. The invitation of the founder of Alibaba to this meeting seems to indicate that he now benefits from a certain rehabilitation, after a long period during which he seemed to have been forced by the authorities to make a low profile.
Critics of financial regulators
In 2020 he had made comments openly criticizing financial regulators. A few days later, China had suspended the Record Stock Exchange of the online payment giant Ant Group, a company affiliated with Alibaba. Ant Group aroused at the time the concern of financial regulators by making foray into the personal and consumption loan sector, wealth management and insurance.
Following his criticisms, Jack Ma had only made rare public appearances, a sign of a more tense relationship with Chinese leaders.
Personality formerly very in sight, ex-English-English, he founded Alibaba in 1999 and made it one of the most famous and most important private companies in China. The group notably has the Taobao application, which captures a large part of the online trade in the country.
Jack Ma is no longer the leader of Alibaba, but he would keep an important participation in society. He has spent in recent years devoting himself to philanthropy and education in rural areas – his great passion.
Alibaba has seen its actions climb more than 40 % since the beginning of January and has to publish its quarterly results this week.
China is struggling to revive its economy
The founder of the Huawei telecoms giant, Ren Zhengfei, and that of the large manufacturer of electric vehicles byd, Wang Chuanfu, were also present in the meeting on Monday. CCTV broadcast images of Xi Jinping, Ren Zhengfei and Wang Chuanfu taking the floor, without, however, in the immediate, disseminating their words or offering a report.
Among the other participants were Robin Zeng, founder of the Chinese giant of CATL electric batteries, or Wang Xing, co -founder of the Meituan Internet platform, specialized in particular in the delivery of meals.
China has struggled to fully revive its economy since the end of the Cavid pandemic. It has experienced a growth of 5 %last year, one of the slowest in decades.
The Asian giant could face new difficulties with Donald Trump, who threatens to hit Chinese imports with new customs duties.
The President already imposes 10 % increase in customs taxes on all products imported from China. Beijing retaliated with customs duties on coal, liquefied natural gas (LNG) or American oil.