Chinese President Xi Jinping on Monday urged entrepreneurs to "show their talents" in a "new era" for the nation's businesses, state news outlet Xinhua reported.

President Xi Jinping held a rare meeting on Monday with some of the biggest names in China's technology sector, such as Alibaba founder Jack Ma, urging them to "show their talent" and be confident in the power of China's model and market.

The once-sidelined Alibaba founder was among the executives who met with China’s top leader, in what was seen as a show of support for private enterprise by Beijing.