Here's How 2022 Chinese Election Could Act As Tailwind For Alibaba And Others

Chinese President Xi Jinping reached out to the domestic private sector amid the growing economic challenges, the CityToday reports.
Jinping highlighted the importance of private capital to economic development while emphasizing their adherence to the regulatory norms at a recent Politburo meet.
The private sector generated over 50% of China's tax revenue.
Also Read: Analyst Slash Earnings Estimates For Alibaba, Baidu, Others Again Amid Surging Covid Environment
The Jinping-led antitrust crackdown on the domestic technology sector is now weighing on Jinping's political ambitions.
The crackdown wiped billions of dollars from the tech juggernaut's market caps, distancing Alibaba Group Holding Limited BABA founder Jack Ma and Tencent Holding Ltd's TCEHY Pony Ma and the private real estate sector from Jinping.
The tech giants underwent intense workforce restructuring amid the crackdown and economic slowdown.
The mighty General Secretary of the Communist Party of China and Central Military Commission Chair, Jinping, aims to win the 2022 election and continue to rule the nation.
The desperation reflects the 20th Party Congress event for 2022, which takes place every five years and could see a change in the leadership.
The event also reflects potential policy changes valid for the next five years.
Jinping needs strong private sector backing to nail the election.
Price Action: BABA shares traded lower by 0.39% at $96.71 in the premarket on the last check Monday.

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