Xi attends meeting with Chinese private sector leaders including Jack Ma Yun and Ren Zhengfei

Chinese President Xi Jinping attended a meeting with prominent entrepreneurs on Monday, a potentially momentous show of support for the private sector after years of turmoil.

Xi delivered a speech after listening to representatives of private firms, the official Xinhua News Agency reported. Premier Li Qiang also showed up, Xinhua said. It didn’t specify which firms or executives were represented.

Alibaba's (9988) co-founder Jack Ma Yun joined the meeting, according to a video posted by the state broadcaster China Central Television. 

Huawei chief executive Ren Zhengfei, BYD (1211) chairman and CEO Wang Chuanfu, Xiaomi (1810) founder, chairman and CEO Lei Jun, New Hope chair Liu Yonghao and other executives spoke at the meeting. China's rising smart robot maker Unitree Robotics CEO Wang Xingxing was present too.

The analysis noted that such a summit would send a powerful signal that Beijing is adopting a more supportive stance toward the private-sector companies that fuel most of the country’s economic growth.

BLOOMBERG AND STAFF REPORTER