TMTPOST -- Chinese stocks in Hong Kong surged Tuesday following a key meeting between President Xi Jinping and leading entrepreneurs on Monday, signaling Beijing's renewed backing for the private sector. The Hang Seng China Enterprises Index jumped as much as 2%, driven by strong gains in technology stocks like Alibaba Group Holding Ltd. and Xiaomi Corp. This marks a 23% rise from January’s low. The CSI 300 Index, a key onshore benchmark, also saw a slight uptick. During the meeting, Xi committed to eliminating unreasonable fines on private companies and encouraged entrepreneurs to keep their competitive edge. His remarks are fueling the ongoing stock rally in Chinese markets, which has been largely driven by optimism surrounding DeepSeek’s advancements in artificial intelligence. Notable figures at the meeting included Alibaba’s Jack Ma and DeepSeek’s founder, Liang Wenfeng. As of press time, Qi An Xin has surged nearly 15%; Xiaomi Group once rose over 6% to a new high, with a market value reaching 1.2 trillion Hong Kong dollars; BYD's Hong Kong shares once rose over 4%, while its A-shares rose nearly 3%; Alibaba's Hong Kong shares and Will Semiconductor rose over 3%; Tencent Holdings once rose over 2%, with its share price once again exceeding 500 Hong Kong dollars; China Feihe, New Hope, and Contemporary Amperex Technology Co. Limited (CATL) rose over 1%; iFLYTEK and CHINT Electrical slightly rose. Only Transfar Intelligence and Meituan fell, with Transfar Intelligence falling over 6% (the stock rose over 10% yesterday); Meituan closed down 0.82% on Monday and slightly fell 0.71% as of the press time on Tuesday. This marks a rare moment of optimism for China’s tech giants, who have struggled to attract investor interest in recent years due to price wars, weak consumer demand, and regulatory hurdles. However, in recent weeks, Wall Street analysts—including those at Goldman Sachs, Morgan Stanley, and JPMorgan Chase—have turned increasingly bullish, predicting that AI growth will boost corporate profits and prompt a broader market reassessment.