Jack Ma, “the Jeff Bezos de China,” seemed to go straight to stardom. And what happened is that she crashed when she tried to launch Ant Financial her alleged Fintech of 150,000 million dollars. Or rather, Xi Jinping crashed, the Chinese president who made it clear who sent. Ma ended up practically missing in combat, but now he has just appeared in an event with Jinping and other great executives of Chinese technology companies. That this happens is as surprising as it is interesting.
XI Jinping Meeting with Technological Capos “in China. As noted in Bloomberg, the Chinese president presided on Monday a meeting in which several entrepreneurs and managers of large Chinese technology companies participated. Among them, of course, the presence of Jack Ma, co -founder of Alibaba – and who left the position of CEO in 2019 – that for the first time in years went to an event of this caliber.
The major flat. The event was also attended among Ren Zhengfei (Founder and CEO of Huawei), Wang Chuanfu (Founder and CEO of Byd), Pony Ma (CEO of Tencent), Lei Jun (co -founder and CEO of Xiaomi), Wang Xing (CoFundador and CEO from Meituan) or Wang Xingxing (CEO of Unitree Robotics). Apparently neither Robin Li (CEO of Baidu) nor Yiming Zhang (CEO of Bytedance) went to that event. During the event, they point out in The New York Times, XI asked these entrepreneurs to have the “ambition to serve the country.”
And also the richest. The 2024 Forbes list with the richest people in China demonstrates that the technological and automobile sector is especially notable in terms of presence. Thus, if we search that list to the personalities of the technological segment in China we see many examples (with its position in that list in parentheses):
- Pony today (Aliaba) (2)
- Zhang Yiming (ByteDance) (3)
- Colin Huang (Temu/Shein) (4)
- Robin Zeng (CATL) (5)
- William Ding (NETEASE) (7)
- Jack Ma (ex-Alibaba) (8)
- Wang Chuanfu (BYD) (9)
- Lei Jun (Xiaomi) (10)
Those fortunes, of course, are far from the great fortunes that dominate the Forbes list globally. Thus, Pony Ma, the second greatest fortune in China, is the fortune 57 of the world. Lei Jun, in the 10th position of ranking in China, is 195 in the global ranking.
More love for private companies. The meeting seems to point to a possible change in attitude on the part of the Chinese government, which in recent years has left the great Chinese technology act, but always making it clear who sent.
AI can have a lot to do. The moment in which the meeting occurs coincides with the rapid development of AI models created by startups and Chinese companies. The actions of these companies have shown the renewed interest in the great Chinese technology: Tencent, who has just offered Deepseek R1 in Wechat, marked the Price record in the Chinese stock market in the last four years.
China became hard with its technology. Ma ended up scalding after the terrible episode lived with Ant Group Co., and other executives seemed to learn the lesson. The government campaign launched at that time was responsible for reinforcing state control over the economy and stopping Chinese billionaires. The objective: to reorient resources towards the priorities of XI, such as national security and technological self -sufficiency.
Closer to Xi Jinping’s policies. Since then Chinese technology companies have been much more aligned with the philosophy of Chinese president. Thus, the AI models developed by some of these companies must first receive the approval of the government to be able to deploy and use in the country.
More tolerance for private. In recent times Beijing has been softening its restrictive policies against Chinese private companies: Qwen, Alibaba’s model, is demonstrating the increasing relevance of the company in this field, but even Apple is managing to include its Apple Intelligence platform on the iPhone in China thanks to their agreements precisely with Alibaba.
Millanoriocracia china. In the US we are seeing how the great technological fortunes are aligned with Trump and yield to their policies or even drive them, as is the case of Elon Musk, the richest man in the world today. Chinese magnates have been aligned with Xi Jinping even longer. The influence of the Chinese government on the march of the country’s companies is even clearer and the AI rise is probably the engine of this “repositioning.” His strategic value is evident, and the Chinese president now seems to want to give more margin of maneuver to private companies that are allowing him to compete in better conditions with his great rival, United States.
Image | Global panorama
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