Description: Chinese President Xi Jinping met with Chinese business leaders in Beijing where the main topic was the reinforcement of China’s economy in a time of crisis. Xi met with Alibaba’s founder Jack Ma, executives from BYD, China’s main EV (electric vehicle) carmaker as well as executives from Xiaomi, Huawei and DeepSeek. The meeting saw the businessmen discussing with President Xi further steps, after years of heightened tensions as Xi Jinping aimed to nationalize private businesses in China.
Impact: The meeting highlighted the novel back and forth relationship between the Chinese government and China’s prominent private business sector. With the Trump administration imposition of tariffs, China would aim to unify its private business front in order to remain competitive on the global market. Despite past grievances between the Chinese government and its private business sector, the meet in the capital should be perceived as China’s global repositioning on the trade market and an attempt to counter US industry and trade dominance.