During the HSBC's Global Investment Summit in Hong Kong, Alibaba Group's Chairman, Joe Tsai, mentioned that there were notable indications of increased confidence among Chinese business entrepreneurs after a technology summit spearheaded by President Xi Jinping. Tsai highlighted that there was a rise in optimism within China's private business industry. Additionally, he disclosed that Alibaba intended to start rehiring employees now that they have hit the lowest point of the economic cycle. The news was reported by Selena Li and Kane Wu from Hong Kong, with writing by Scott Murdoch and editing by Tom Hogue.