“The upcoming Employment Rights Bill is a major source of stress for small firms, with nine in ten business owners saying they are concerned about its introduction, and this is undoubtedly a major cause of the very subdued confidence levels seen in our research.
The Small Business Index (SBI) calculated by the Federation of Small Business shows that optimism slumped at the end of last year.
Today’s meeting may be a sign that Xi’s administration are gearing up to work more closely with China’s major companies as it tries to cushion the economy from the impact of a trade war with the US.
Xi spoke at a symposium attended by business leaders including Huawei founder Ren Zhengfei, Xiaomi’s Lei Jun, BYD’s Wang Chuanfu, Unitree’s Wang Xingxing, and CATL’s Robin Zeng.
Jack Ma’s presence at today’s meeting with Xi suggests authorities are finally moving past its crackdown on Alibaba, suggests Angela Huyue Zhang, a law professor at the University of Southern California.
