Beijing’s schmoozing of China’s private sector a strategic move, analysts say
Beijing is repositioning the private sector as the cornerstone of China’s global competitiveness and technological edge in the face of growing geopolitical and economic headwinds, according to analysts’ assessments following President Xi Jinping’s meeting with prominent entrepreneurs.
Observers also emphasised the importance of more stimulus and policy reforms to get the ball rolling.
“It’s a calculated move to restore confidence and rebuild trust” after years of economic slowdown, regulatory tightening, and bureaucratic interference at multiple levels, according to Jing Qian, a managing director with the Centre for China Analysis (CCA) at the Asia Society Policy Institute, adding that the meeting reflects how private entrepreneurs are considered indispensable in China’s efforts to compete globally and to maximise the country’s technological edge.
We expect measured policy support and a more predictable regulatory environment in the next two to three years
The meeting signalled Beijing’s shift from rectification to revitalisation, and that China has concluded its regulatory-tightening cycle, according to economists led by Robin Xing, chief China economist at Morgan Stanley.
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