Alibaba Chair Says Business Entrepreneurs ‘More Confident’ After Meeting With Xi Jinping In January, Signals Hiring Boost – Alibaba Gr Hldgs (NYSE:BABA), Alibaba Gr Hldgs (OTC:BABAF)

Alibaba Group Holding Ltd. BABA BABAF  Chairman Joe Tsai announced Tuesday the company will resume hiring, signaling growing confidence in China’s business landscape following recent economic policy shifts.

What Happened: Speaking at HSBC’s Global Investment Summit, Reuters reported that Tsai highlighted a pivotal meeting between Chinese President Xi Jinping and private business leaders as a turning point.

“We’ve seen a very clear sign of business entrepreneurs becoming more confident since January,” Tsai told attendees, emphasizing the government’s encouraging message to reinvest and expand the workforce.

The tech giant’s hiring plans come amid a remarkable resurgence in Chinese equities. The iShares China Large-Cap ETF FXI has surged 20.27% year-to-date, outperforming the S&P 500 ETF Trust SPY, which is down 2.05% in the same period.

See Also: Trump Officials Reportedly Text War Plans To Journalist On Signal, Exposing Secret Yemen Strike Hours Before Bombs Fell — President Says He Doesn’t Know Anything About It: ‘You’re Saying That They Had What?’

Why It Matters: Alibaba’s optimism stems from China’s broader economic strategies, including a recently announced “special action plan” aimed at boosting domestic consumption. The company is also investing heavily in artificial intelligence, committing $52 billion to cloud computing and AI infrastructure over the next three years.

The tech sector’s momentum is further bolstered by innovations from companies like Baidu Inc. BIDU, which recently unveiled its Ernie X1 AI model, claiming performance comparable to competitors at half the cost.

Analysts remain cautiously optimistic. With Alibaba’s current consensus price target of $138.26 and some analysts projecting up to $190, the company appears poised for significant growth in the rapidly evolving Chinese tech market.

Price Action: Alibaba’s ADR closed at $134.48 on Monday, down 0.49%. After hours, it dipped to $134.45. Year to date, the stock is up 58.30%, gaining 88.19% over the past year, according to data from Benzinga Pro.

Alibaba has strong momentum based on Benzinga Edge Rankings. Click here for the full stock analysis.

Read Next:

Image Via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Don’t miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Visited 1 times, 1 visit(s) today

Related Article

Xi Jinping’s Relatives Benefit From Political Connections, Says US Report

Chinese President Xi Jinping’s relatives continue to control millions of dollars in financial investments and business ventures, according to a recent report from the US. Chinese President Xi Jinping’s relatives continue to control millions of dollars in financial investments and business ventures, according to a recent report from the US-backed Office of the Director of

Meta’s Threads, Bluesky Gain Users As Musk’s X Dips

Topline Elon Musk’s X, formerly known as Twitter, has experienced a drop off in U.S. user traffic since November’s presidential election—when he used his account to rally support for President Trump—while rival social media platforms Threads and Bluesky have seen significant increases, according to data from digital market intelligence company Similarweb. Musk purchased Twitter for

‘They’re out of control’: Donald Trump says Jeff Bezos frustrated with Washington Post’s ‘crazy people’

‘They’re out of control’: Donald Trump says Jeff Bezos frustrated with Washington Post’s ‘crazy people’ (Pic credit: AP) US President Donald Trump expressed optimism about his working relationship with Jeff Bezos and the future of The Washington Post, alleging that Bezos privately criticised the newspaper’s staff.In an interview with OutKick’s Clay Travis, Trump claimed Bezos

Despite Anti-Corruption Drive, Xi Jinping’s Family Holds Millions: Report

Beijing: Chinese President Xi Jinping’s relatives continue to possess millions of dollars in business ventures and financial investments, Radio Free Asia reported, citing a recent report from US sources. After assuming power in 2012, President Xi initiated an anti-corruption campaign designed to eliminate corruption at all tiers of the Communist Party. This initiative, which focused

In Aurora, Colo., a Split Over the Biggest Threat to the City: Migrants or Trump?

The crumbling apartments in Aurora, Colo., that President Trump seized on to insist the city had been overrun by Venezuelan street gangs are now boarded up and nearly empty. But in one building, the smashed door of Apartment 300 captures the fresh divisions sown by Mr. Trump’s immigration crackdown. On a recent spring morning, a

Opinion | What I’m Hearing in China This Week About Our Shared Future

There is a lot of talk in Beijing this week over when President Trump and President Xi Jinping of China will meet face to face. Some Chinese experts say the two leaders need to wait a few months until Trump decides exactly what tariffs he is going to impose on China — and what China

White House Says Russia and Ukraine Agree to Stop Fighting in Black Sea

The White House said Tuesday that Ukraine and Russia had agreed to cease fighting in the Black Sea and to hash out the details for halting strikes on energy facilities. It would be the first significant step toward the full cease-fire the Trump Administration had been pushing, but it still would fall short of that

All the celebrities who have come out as LGBTQ+ in 2025

British TV legends, adored Olympians and music superstars are among some of the celebrities who have already come out as LGBTQ+ in 2025. Already, this year is shaping up to be a beautiful one when it comes to increased LGBTQ+ visibility. We’ve seen a soap star coming out as non-binary in their fifties, a new

Warren Buffett Gives $1M to Worker Who Called 44 March Madness Games

Warren Buffett has been running a March Madness bracket challenge for Berkshire Hathaway employees for nearly a decade, but nobody has ever won his $1 million prize — until now. The famed investor’s company revealed in a press release on Monday that an employee of its FlightSafety International subsidiary won its 2025 Bracket Contest after

Why Elon Musk Is Spending Millions On Wisconsin Supreme Court Election

Topline Wisconsin’s Supreme Court election on April 1 is drawing national attention as President Donald Trump has heralded the “important election” while billionaire Elon Musk has poured millions into the high-stakes race, which could have national implications for the 2028 presidential election—and help Musk-owned Tesla. Elon Musk attends the finals at the NCAA wrestling championship

5 Celebrities Who Need To Be In The WWE Hall of Fame

The WWE Hall of Fame is an institution created to honour the past of World Wrestling Entertainment. For over thirty years, WWE has enshrined hundreds of men and women who have had a lasting impact on professional wrestling. However, it is just not the WWE wrestlers who have had the luck of being inducted into

Warren Buffett Has Added to 6 of His 8 Forever Holdings Over the Last 6 Weeks

The Oracle of Omaha plans to hold eight stocks “indefinitely.” Recently, he’s bought additional shares of six of these companies. When it comes to billionaire money managers, Berkshire Hathaway‘s (BRK.A 0.90%) (BRK.B 0.84%) Warren Buffett is in a class of his own. Since taking over as Berkshire’s CEO six decades ago, he’s overseen a jaw-dropping

Warren Buffett Has 47% of Berkshire Hathaway’s $283 Billion Stock Portfolio Invested in Just 3 Truly Wonderful Companies

Despite an increasingly sprawling portfolio, Buffett still likes to bet big on his best ideas. Warren Buffett would probably say Berkshire Hathaway‘s (BRK.A 0.90%) (BRK.B 0.84%) portfolio is highly diversified. It currently owns 44 different publicly traded stocks. On top of that, it owns dozens of private companies and nonmarketable securities. That’s an absolutely sprawling

Korean American sues Trump admin to stop deportation over campus activism | Civil Rights News

Yunseo Chung, 21, moved to the US when she was seven and now faces deportation over pro-Palestinian activism at Columbia University. United States permanent resident and Columbia University student Yunseo Chung, 21, has sued US President Donald Trump’s administration to halt her deportation, accusing authorities of using the same tactics employed against other college activists

China is suffering its own ‘China shock’

Back in the heyday of China’s boom a decade ago, Zhou Yousheng’s shoe factory in Guangdong province employed more than 100 workers. In those days, China’s abundant supply of cheap labour and highly concentrated supply chains made it a dominant force in low-end manufacturing. The country’s share of global footwear exports, for example, hit more

In defiance of Donald Trump, is a European ‘security council’ emerging? | Paul Taylor

In the face of Vladimir Putin’s aggression against Ukraine and Donald Trump’s destabilisation of the Atlantic alliance, an embryonic European security council is taking shape on the hoof. Whether it will prove strong enough to protect Europe’s liberal democracies and deter Russia without US military support may be tested all too soon. Nato was created

From Venue To Guests, All You Need To Know

Amazon founder Jeff Bezos and his fiancée, Lauren Sanchez, are preparing to get married in Venice, Italy, this summer, nearly two years after their engagement in May 2023. According to reports, the couple has started sending out wedding invitations, but the exact date remains undisclosed. Sources suggest the ceremony could take place as early as

‘There is a moral duty’

Photo Credit: Getty Images It’s no secret that the ultra-rich pollute at a much greater rate than the rest of us, but the details of a gigantic megayacht owned by Jeff Bezos caused outrage on social media. Redditors on a thread in the r/environment subreddit seethed at the scale of the environmental havoc of Bezos’

0
Would love your thoughts, please comment.x
()
x