President Xi Jinping met some of China’s most prominent tycoons, sending what analysts say is the strongest signal of support in years to companies like web giants Alibaba and Tencent.

President Xi Jinping held a rare meeting on Monday with some of the biggest names in China's technology sector, such as Alibaba founder Jack Ma, urging them to "show their talent" and be confident in the power of China's model and market.

Chinese President Xi Jinping presided over a meeting with Alibaba co-founder Jack Ma and other prominent entrepreneurs on Monday, signaling Beijing’s endorsement for a long-marginalized private sector now considered key to reviving the world’s No.