Xiaomi founder Lei Jun introduces the SU7 Ultra during a launch event held in Beijing, China, Thursday, Feb. 27, 2025. (AP Photo/Ng Han Guan)

Chinese technology stocks advanced sharply on Friday, with Alibaba Group Holding Ltd. jumping 11.41% in Hong Kong trading, as investors responded to positive earnings guidance and anticipated monetary policy easing from Beijing.

Some of China's prominent business leaders, including the heads of carmakers BYD and Xiaomi , said they would resist external pressure and keep innovating, following a rare meeting between President Xi Jinping and the private sector.

Ren Zhengfei from Huawei, Lei Jun from Xiaomi and Wang Xinxing from Unitree all gave speeches at the high-profile meeting.

President Xi Jinping presided over a meeting with Alibaba co-founder Jack Ma and other Chinese business leaders, signaling his support for private companies after years of turmoil. The gathering included the heads of Xiaomi and Meituan,

US President Donald Trump imposed new 10% tariffs on China, triggering sharp retaliation threats from Beijing. Chinese officials condemned the move as a ‘Cold War mentality,’ warning it could destabilize global trade.

In many ways, Xiaomi Auto's success was built on the shoulders of giants. With an industry veteran like Hu overseeing engineering processes, standards and research and development, Xiaomi quickly sloughed off its late-entry handicap and became a runner that knew best how to sprint ahead.

Xiaomi, the world's third-largest smartphone maker, launched its new flagship smartphone Xiaomi 15 Ultra on Thursday, with the base model starting at 6,499 yuan ($894.19).The handset is equipped with a 1-inch ultra-large main camera sensor,

As the company’s most advanced smartphone to date, the Xiaomi 15 Ultra boasts the latest Snapdragon 8 Elite processor, a 200MP camera, a 2K display, a 6,000mAh battery, and cutting-edge satellite communication support.

Xiaomi looks to “redefine premium cars for this generation” with a combination of performance features that compete with Porsche, technological functions similar to Tesla, and luxury comparable to German carmakers.

Autonomous driving-related over-the-air software upgrades will be subject to regulatory approvals, China's industry ministry said on Friday, part of new regulations aimed at preventing automakers using them to conceal defects or avoid liability.