On February 17, Chinese President Xi Jinping met a group of private-sector business leaders in Beijing. While key messages released to the public from the meeting remain similar to past public remarks from the Chinese leader, some of the meeting invitees caught public attention. Jack Ma, the founder of Alibaba whose business suffered from government regulatory crackdowns in recent years, appeared in this meeting with top Chinese Communist Party officials, as did several other key businessmen from the Chinese technology sector. China’s political leaders apparently intend to refocus on developing a strong private sector, and Ma’s reappearance in key political meetings is a signal to that end. 

After years of contradictory economic policies and attempts to increase the role of state-owned enterprises in the Chinese economy, Xi now hopes to reverse the trends. To boost the Chinese economy after seeing lower-than-expected results in 2023 and 2024, the Chinese leader seems ready to rely on the country’s private sectors, notably the country’s leading entrepreneurs, to prepare for a tumultuous period ahead. Since 2019, China has encountered increasing geopolitical pressure and economic sanctions over its actions in Xinjiang and Hong Kong, and its stance on the ongoing Russia-Ukraine War. China’s economy also faced pressure and punitive measures from the United States, both from the previous Biden administration and the Trump........

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