Alibaba Group Holding Limited (NYSE:BABA) stock is moving higher on Friday amid reports that the company’s co-founder Jack Ma may soon meet with Chinese President Xi Jinping.

The Details: According to Reuters, Xi is expected to chair a symposium aimed at boosting sentiment toward China’s private sector. The event will be attended by Jack Ma and other business executives, including DeepSeek founder Liang Wenfeng, as reported by Bloomberg News.

Additionally, an executive from Huawei Technologies is expected to attend the event, along with Pony Ma, CEO of Tencent. Lei Jun, CEO of smartphone and electric vehicle maker Xiaomi, is also anticipated to be present.

In 2020, Jack Ma withdrew from the public eye after authorities halted the IPO of his fintech company, Ant, following his criticism of China’s regulatory system. His appearance at this event could help restore business confidence.

Xi's rare involvement in such a symposium comes amid challenges facing China's economic sector, including rising tensions with the United States under President Donald Trump and sluggish domestic growth.

XI is expected to encourage business executives to expand their companies both in China and abroad in response to the growing U.S.-China technology conflict.

The symposium is reportedly scheduled for Monday.

See Also: A Closer Look at Costco Wholesale’s Options Market Dynamics

BABA Price Action: At the time of writing, Alibaba stock is trading 2.60% higher at $122.65, according to data from Benzinga Pro.

Image: via Shutterstock