What does Jack Ma's return to the spotlight mean?

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Feb 21, 2025

Xi Jinping told participants at the symposium that their companies needed to innovate, grow and remain confident despite China's economic challenges, which he described as "temporary" and "localised".

He also said it was the "right time for private enterprises and private entrepreneurs to fully display their talents".

This has been widely interpreted as the government telling private tech firms that they too are back in good graces.

Mr Ma's downfall had preceded a broader crackdown on China's tech industry.

Companies came to face much tighter enforcement of data security and competition rules, as well as state control over important digital assets.

Other companies across the private sector, ranging from education to real estate, also ended up being targeted in what came to be known as the "common prosperity" campaign.

The measures put in place by the common prosperity policies were seen by some as a way to rein in the billionaire owners of some of China's biggest companies, to instead give customers and workers more of a say in how firms operate and distribute their earnings.

But as Beijing imposed tough new regulations, billions of dollars were wiped off the value of some of these companies - many of them tech firms - rattling international investors.

This, along with a worsening global economy that was affected by the pandemic as well as Russia's invasion of Ukraine, has contributed to considerable changes in China's economic situation.

Growth has slowed, jobs for the country's youth have become more scarce and, amid a property sector downturn, people are not spending enough.

As rumours that Mr Ma would attend Monday's meeting began to spread, so did a glimmer of hope. Richard Windsor, director of technology at research firm Counterpoint, said Mr Ma's presence would be a sign that China's leadership "had enough of stagnation and could be prepared to let the private sector have a much freer hand…Read More

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In the Press

Published

Feb 21, 2025

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Team Counterpoint

Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.