China’s top economic official met dozens of executives and industry experts on Tuesday, pledging “support” for technology companies amid a deepening economic slump, reports the Financial Times. Liu He, a vice-premier and Chinese leader Xi Jinping’s closest economic adviser, said China “must support the platform economy, and sustain the healthy development of the private economy.”
He added that China should better “balance the relationship between the government and the market, and support digital companies to list on domestic and foreign exchanges,” according to state media.
Video footage from state broadcaster CCTV showed Baidu founder Robin Li and Qihoo 360 founder Zhou Hongyi at the meeting. Markets were closely tracking news of the meeting held by China’s top political consultative body in the hopes it could signal an end to Beijing’s regulatory crackdown on internet companies.