Chinese premier chairs symposium on platform economy

Chinese Premier Li Qiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a meeting with representatives from the country's major platform operators, listening to their opinions and suggestions on promoting the well-regulated, healthy, and sustainable platform-economy development, in Beijing, capital of China, July 12, 2023. Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting. (Xinhua/Rao Aimin)

BEIJING, July 12 (Xinhua) -- Chinese Premier Li Qiang Wednesday presided over a meeting with representatives from the country's major platform operators, listening to their opinions and suggestions on promoting the well-regulated, healthy, and sustainable platform-economy development.

The platform economy has boosted demand, provided an engine for innovation and development, created new channels for employment and entrepreneurship, and offered support for public services, Li said after hearing opinions from the companies, including the on-demand retail and delivery platform Meituan, social media platform Xiaohongshu, and short-video platform Douyin.

The platform economy has taken an increasingly prominent position in China's overall development, Li said. He added that the platform economy would have a more significant role as the country embarks on a new journey to build itself into a modern socialist country.

He encouraged the platform enterprises to stay confident and look ahead to lead in development, creating jobs and international competition.

Li stressed that governments at all levels should strive to create a fair market environment for competition and improve policies on investment access and security assessments for new technologies and businesses.

The governments should also optimize the transparent and predictable regulatory systems to reduce the compliance costs of those enterprises and promote the sound development of the industry, Li added.

He underlined efforts to establish and improve regular communication mechanisms with platform enterprises, promptly understand their problems and demands, and improve relevant policies and measures to promote the well-regulated, healthy, and sustainable development of the platform economy.

Vice Premier Ding Xuexiang attended the meeting.