Chinese leader Xi Jinping hosted Alibaba co-founder Jack Ma and the country’s top tech executives in Beijing on Monday, in a meeting that signals officials could be steering the country in a more business-friendly direction after a yearslong regulatory crackdown.

The once-sidelined Alibaba founder was among the executives who met with Xi Jinping, in what was seen as a show of support for private enterprise by Beijing.

"DeepSeek complements, rather than competes against, existing AI leaders like OpenAI, Anthropic, and Google DeepMind," the Chinese embassy said.

Alibaba announced plans to invest billions in AI infrastructure. Founder Jack Ma recently met with Chinese President Xi Jinping. Since the meeting, Alibaba's stock has

Social media was abuzz with users praising Mr Ma for his return to the public spotlight. "Congratulations [Jack] Ma for the safe landing," said one user on Chinese social media platform Weibo. "The comeback of [Jack] Ma is a shot in the arm to the current Chinese economy," said another.

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Xi is permitting Ma’s return, but he has not fully reinstated him. The government may be offering him a chance to contribute again — but with strict conditions.

The Chinese president’s symbolic handshake this week with exiled billionaire Jack Ma shows Beijing needs tech entrepreneurs to revive the economy.

Huawei's Ren Zhengfei, BYD's Wang Chuanfu, and Xiaomi's Lei Jun were among the leading tech executives that met Xi Jinping on Monday.

China's President Xi Jinping met top private sector entrepreneurs, including Alibaba's Jack Ma, signaling a policy change after strict regulations on

On Feb 20, Alibaba reported a faster-than-projected 8 per cent rise in sales to 280.2 billion yuan (S$51.6 billion) in the December quarter, after cloud services revenue expanded its most on a quarterly basis in about two years.