China Enhances Policy Support for Internet Platform Economy
China is enhancing its policy support for the internet platform economy. The government is taking steps to foster growth and innovation in this sector, aiming to create a more favorable environment for digital platforms to thrive. Measures are being implemented to improve regulations and encourage investment, reflecting the importance of the internet economy to the country's overall development.
TroibNews 
The Chinese State Council has detailed plans to enhance policy support for the platform economy to foster growth, employment, and innovation. The government also aims to boost oversight, expand industrial internet platforms, and assist consumer internet platform companies in realizing their market potential.
These plans were discussed during a State Council meeting held on Friday, presided over by Premier Li Qiang.
The meeting underscored the platform economy's significance, asserting that it is essential for increasing domestic demand, stabilizing employment, and empowering the real economy. Consequently, the government intends to further bolster support policies. These measures include enhancing data supply, facilitating lawful cross-border data flows, and aligning platform policies with broader macroeconomic objectives.
Additionally, the focus will be on regulating competition, improving oversight, and encouraging platform companies to conduct their operations in a responsible and competitive manner.
The protection of consumer and labor rights was also a key topic. New initiatives will enhance systems for resolving online complaints and conducting post-purchase reviews, while guiding platforms to manage employment practices in accordance with labor laws to promote job creation.
Furthermore, the Friday meeting also sanctioned a draft law concerning hazardous chemicals safety, which will be presented to the National People's Congress for evaluation. This legislation seeks to reinforce corporate accountability, enhance regulatory oversight, and mitigate risks through interdepartmental collaboration. It also emphasizes the importance of upgrading safety management systems, training workers, and phasing out outdated chemical facilities to prevent accidents.
As per the National Development and Reform Commission, the government has set aside 150 billion yuan in special long-term bonds aimed at large-scale industrial upgrades across seven critical sectors: manufacturing, agriculture, education, transportation, cultural tourism, and medical care, in order to facilitate industrial transformation and modernization.
Mathilde Moreau for TROIB News
These plans were discussed during a State Council meeting held on Friday, presided over by Premier Li Qiang.
The meeting underscored the platform economy's significance, asserting that it is essential for increasing domestic demand, stabilizing employment, and empowering the real economy. Consequently, the government intends to further bolster support policies. These measures include enhancing data supply, facilitating lawful cross-border data flows, and aligning platform policies with broader macroeconomic objectives.
Additionally, the focus will be on regulating competition, improving oversight, and encouraging platform companies to conduct their operations in a responsible and competitive manner.
The protection of consumer and labor rights was also a key topic. New initiatives will enhance systems for resolving online complaints and conducting post-purchase reviews, while guiding platforms to manage employment practices in accordance with labor laws to promote job creation.
Furthermore, the Friday meeting also sanctioned a draft law concerning hazardous chemicals safety, which will be presented to the National People's Congress for evaluation. This legislation seeks to reinforce corporate accountability, enhance regulatory oversight, and mitigate risks through interdepartmental collaboration. It also emphasizes the importance of upgrading safety management systems, training workers, and phasing out outdated chemical facilities to prevent accidents.
As per the National Development and Reform Commission, the government has set aside 150 billion yuan in special long-term bonds aimed at large-scale industrial upgrades across seven critical sectors: manufacturing, agriculture, education, transportation, cultural tourism, and medical care, in order to facilitate industrial transformation and modernization.
Mathilde Moreau for TROIB News
