tl;dr:
Printers are on for the (Chinese) tech bros baby!
Large bull run occurred in Chinese stocks yesterday, the 17th in this photo if you're American. Also, Chinese stock colors are inverted to US ones. (Edit: photo attached for Huawei, net issues sorry):
Xi just had a meeting with the major tycoons in China, including previously un-personed* Jack Ma on the topic whether to try again muh communism (last tried by the Soviets, and it wasn't
real communism!) or go even more free capitalist. There's a dip going on today but nobody knows if it'll go back up.
Pretty important, a bit similar to the historically relevant
Discourses on Salt and Iron from the Han Dynasty. Out of the 7 in the standing committee, 4 (Xi Jingping, Li Qiang, Ding Xuexiang, Wang Huning) were there so this is a
major happening.
Xinhua article in
English.
Huawei's Ren Zhengfei, BYD's Wang Chuanfu, New Hope's Liu Yonghao, Will Semiconductor's Yu Renrong, Unitree Robotics' Wang Xingxing, and Xiaomi's Lei Jun put forward their opinions and advice on the development of the private sector.
*He has not been fully rehabilitated. He, his companies, or his ideas were not mentioned by name, nor were there any full facing shots of him speaking or anything (Him speaking would be total Ma victory).
A picture of Jack Ma shaking hands with Xi appeared briefly on Xinhua's
News TVcastconnect (ed) -think PBS+ all the US news shows, one at 7PM CST every day.
2ND EDIT:
Here's the original:
Notice how he's (Xi) referred to in his full title here. So this one's more official. I added some context after realizing how big this meeting was.
General secretary of the CPC, Party Chairman, Central Military Commission premier, Xi Jinping on the morning of the 17th delivered an important address. He (strongly) stresses, the fundamental ideology and goals of party and state in regards to the development of private sector enterprises has already been integrated (legally) with "socialisim with Chinese charachteristics". It shall be pursued until the goals come to fruition. It shall not, and will not be changed. A new era beckons a new journey, the civilian sector expansion is vast, and much is to be done. The vast majority of entrepenuers and civilian industries
stressed at the symposium on private enterprises that the private economy has broad prospects for development and great potential, and (He invites) private enterprises and private entrepreneurs to show their talents. (We) must unify our ideology, harden our hearts, stimulate healthy growth of the economy, stimulate high quality growth of the economy. We hope that the private enterprises and private entrepreneurs embrace the ideals of serving their country, conspire for better development and contribute greatly.
Other notable quotes:
The issue of the civilian economy occurs during the reform and upgrading of industrial sectors. It is gradual and piecemeal, not sudden and sector wide, it is temporary, and not permanent, it can be overcome and is not impossible to fix.
We (royal, refering to party) must crack down on the issues set by the standing comittie. So long as it has been ordered by the standing committie, it must be done without shortcuts. We must destroy "legal loophole" use of medical and food adulteration, unfair market advantages [...] and remove the barrier of entry for investment and cost of entry [...]
We (royal) are a socialist country ruled by law, and the practices of unfair competition, unfair and arbitrary fines, arbitrary closure, arbitrary inspection and permit revocation must be halted. We strongly stress again we are a country ruled by law, and you (goverment worker) must recognize all kinds of unlawful practices must not be opaquely investigated.
tldr for the bureaucrat: "Get the
fuck out of the way (red tape) of the tech bros, who are ostensibly trying to improve the economy (versus your parasitic leeching), and stop demanding bribes or we'll fucking do it for you"- Xi and co.
Foreshadow announcement as is usual a day before:
General Secretary Xi Jingping points out, (we) mush push forward technological adaptation in China in two folds (methods). First is technological breakthrough followed by general technological level adoption. Zhejiang has persevered in the former, and socialist economical development followed as a result.
[...]
In regards to the issues of first investment capital for bleeding edge tech companies, Hangzhou specifically created a 1.1Billion CNY tech startup fund.
