China’s Xi Jinping, Liu He move to reassure private sector as Beijing’s Big Tech crackdown rattles entrepreneurs

Beijing has stepped up efforts to reassure private businesses they have the unswerving backing of China’s top leadership, despite slugging the sector with a regulatory crackdown that has unnerved many entrepreneurs.On Monday, both Chinese President Xi Jinping and his top economic adviser, Vice-Premier Liu He, sent strong messages of support to the private sector, saying its role in the nation’s economic development had not been diminished.Liu said private firms must be offered “vigorous”…