Billionaire Tencent Holdings Ltd. co-founder Pony Ma has penned a lengthy op-ed backing Chinese pledges to resuscitate the private sector, becoming the most prominent entrepreneur to endorse Beijing’s promises to unshackle a giant swath of the economy.

China’s third-wealthiest person echoed many of the sentiments in an official policy document published Wednesday that called for the revival of private businesses, at a time the world’s No. 2 economy is struggling to gain momentum. He was joined by Xiaomi Corp. co-founder Lei Jun, the smartphone mogul turned EV entrepreneur, who in a separate editorial likened the policies to a manifesto for quality growth and innovation.