BEIJING – As Chinese head honchos gathered for a meeting at the Great Hall of the People stood up to applaud the arrival of Chinese President Xi Jinping, a man clad in a black Mao suit looked especially cheerful. Mr Jack Ma, the co-founder of Alibaba, had every reason to smile.

Chinese leader Xi Jinping hosted Alibaba co-founder Jack Ma and the country’s top tech executives in Beijing on Monday, in a meeting that signals officials could be steering the country to a more business-friendly direction after a yearslong regulatory crackdown.

Huawei's Ren Zhengfei, BYD's Wang Chuanfu, and Xiaomi's Lei Jun were among the leading tech executives that met Xi Jinping on Monday.