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.

Diane Brady on Xi Jinping’s turn toward the tech sector. The big story: U.S. and Russia in talks on Ukraine. The markets: Treading water. Analyst notes from Goldman Sachs (on the U.S. economy), Apollo (on GDP),

China’s Communist Party has a history of purging then welcoming back senior officials. Deng Xiaoping was purged three times before leading the country out of Maoism in the late 1970s. Some cadres are welcomed back years after their death.

Chinese leader Xi Jinping hosted a meeting with Chinese high-tech tycoons on Monday. Observers said that Xi’s meeting sends a positive signal to “help promote the private sector.” But Xi needs to do more,