China has invited some of the country's top entrepreneurs, including Jack Ma, co-founder of Alibaba Group Holding Ltd., and Liang Wenfeng, founder of AI frontrunner DeepSeek, for a highly anticipated meeting with the nation's top leadership, according to sources familiar with the matter, as first reported by Bloomberg.

The meeting is expected to take place as early as next week, with President Xi anticipated to attend, though details remain sparse. The event holds significant importance, especially given Xi's closely guarded schedule. A discussion between President Xi and Ma, in particular, could signal a shift in the government's stance toward private-sector companies that are critical to China's economic growth.

Alibaba's stock saw a notable 5% surge in Hong Kong following the news, signaling optimism surrounding the meeting. The tech giant has been embroiled in a tense relationship with the government, especially after a crackdown in 2020 that involved toughened regulations and an anti-monopoly campaign. The high-profile cancellation of Ant Group's initial public offering marked a significant moment in this fallout, leaving Ma largely out of the public eye. Alibaba's stock plummeted as a result, and the company was seen as one of the biggest casualties of the government's tough approach toward the private sector.

In more recent years, however, Ma has gradually reemerged, making occasional visits to Alibaba's headquarters, including this week, and posting on the company's internal employee forums. This gradual return, coupled with China's shifting economic priorities, signals a potential thaw in the government's relationship with private companies like Alibaba.

Meanwhile, AI has become a major area of focus for the Chinese government. Alibaba recently announced a partnership with Apple to enhance iPhone AI services in China, signaling its alignment with Xi's broader vision for leadership in artificial intelligence. DeepSeek, a rising AI company, has also made waves by developing a ChatGPT-like reasoning model but at a fraction of the cost, shaking the U.S. tech industry.

The growing optimism around AI has fueled a significant rally in China's stock market, with the Hang Seng Tech Index surging 23% in recent weeks. Alibaba's shares have jumped 50% year-to-date, reaching their highest point since July 2022.

As China navigates an uncertain economic landscape and prepares for potential geopolitical tensions, particularly with the U.S., the reshuffling of priorities seems likely to continue—especially as AI emerges as a key sector for economic revival.