Translated with AI from the Russian original.

Chinese President Xi Jinping met with leading entrepreneurs in the country, including Alibaba co-founder Jack Ma and Xiaomi head Lei Jun, demonstrating support for the private sector after a period of strict regulation.

Xi emphasized the enormous potential of private enterprises and promised to improve the business environment by addressing the problems of high financial costs and arbitrary inspections. The presence of Jack Ma, previously removed from public activity, signals a restoration of trust between the authorities and business. Experts believe that this meeting reflects Beijing's desire to strengthen the private sector for technological competition with the United States.

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