In a meeting with leading entrepreneurs this week, China’s President Xi Jinping celebrated a rising tech industry star while rehabilitating a once-venerated tycoon as he sought to restore investor confidence in the country’s struggling economy.

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.

Even before President Xi Jinping met with leading Chinese entrepreneurs on Feb. 17, investors began piling into technology shares, betting that a years-long crackdown on the private sector was at an end.