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Does "buzz about the import" mean "chat about the implication" here?

 
 
Reply Wed 24 Oct, 2012 07:18 pm

Context:

BEIJING — After it was leaked that Xi Jinping, the man anointed to be the next Communist Party chief of China, had met in private with a well-known supporter of political liberalization, the capital’s elite began to buzz about the import of the encounter.
 
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Lustig Andrei
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Reply Wed 24 Oct, 2012 08:12 pm
@oristarA,
Basically the phrase means that people in the know started to chat about just how important (import) this meeting might have or might not have been.
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