China’s Tech Tycoons Pledge Allegiance to Xi’s Vision

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(Bloomberg) -- China’s embattled tech tycoons lined-up to pledge their support for President Xi Jinping’s “common prosperity” policy and market-roiling regulatory onslaught on the digital sector, at the country’s annual internet conference.Most Read from BloombergAlibaba Group Holding Ltd.’s Chief Executive Officer Daniel Zhang and Tencent Holdings Ltd.’s Senior Vice President Guo Kaitian on Sunday voiced their backing for Xi’s flagship goal to narrow the country’s wealth gap, at the World Internet Conference hosted in the resort town of Wuzhen from Sept. 26 to 28.Xiaomi Corp.’s co-founder Lei Jun said on the same day that technology companies should help close the digital divide and boost small and medium-sized enterprises, two of Beijing’s long-standing policy pursuits.The summit comes as China’s tech giants weather immense regulatory upheaval on everything from online gaming to data ownership and overseas financing. Alibaba and Tencent-backed food de
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