The Chinese mainland's State Council has unveiled ambitious plans to bolster the platform economy, aiming to drive growth, create jobs, and spark innovation. Chaired by Premier Li Qiang during Friday's meeting, the initiative underscores the critical role of the platform economy in expanding domestic demand and stabilizing employment.
Key measures include strengthening data supply, promoting lawful cross-border data flows, and aligning platform policies with macroeconomic goals. These steps are designed to ensure that platform companies can unlock their full market potential while operating responsibly and competitively.
Regulation will play a pivotal role, with efforts focused on enhancing competition, improving supervision, and encouraging platform businesses to adhere to ethical practices. Protecting consumer and labor rights is also a top priority, with new systems set to streamline online complaint resolutions and post-purchase reviews. Additionally, platforms will be guided to regulate employment practices in line with labor laws to boost job creation.
Beyond the platform economy, the meeting approved a draft law on hazardous chemicals safety, which will be submitted to the National People's Congress for review. This law aims to enhance corporate responsibility, improve regulatory enforcement, and minimize risks through cross-departmental collaboration.
In a significant financial move, the National Development and Reform Commission announced the allocation of 150 billion yuan ($20.7 billion) in special long-term bonds. These funds are earmarked for large-scale industrial upgrades across seven key sectors: manufacturing, agriculture, education, transportation, cultural tourism, and medical care. This investment is set to promote industrial transformation and upgrading, ensuring sustained economic development.
Reference(s):
cgtn.com