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 in 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.

China's President Xi Jinping met with private sector business leaders on Monday, offering them assurances that policies regarding the private sector would not change, state media reported, as government officials work to revive an economy disrupted by a pandemic,