China has unveiled a series of new policies aimed at boosting its platform economy, driving innovation, and expanding employment opportunities. During a State Council meeting chaired by Premier Li Qiang on Friday, the government outlined plans to enhance policy support for internet platforms, strengthen oversight, and unlock market potential.
The platform economy, which includes consumer internet platforms and industrial internet platforms, was highlighted as critical to expanding domestic demand, stabilizing jobs, and empowering the real economy. To bolster this sector, China will strengthen data supply, promote lawful cross-border data flows, and align platform policies with broader macroeconomic goals.
Efforts will also focus on regulating competition and improving supervision to encourage platform companies to operate responsibly and competitively. The government emphasized the importance of protecting consumer and labor rights, with new measures to enhance online complaint resolution systems and post-purchase reviews.
In addition, platforms will be guided to regulate employment practices in line with labor laws, aiming to boost job creation and ensure fair treatment of workers. These steps are expected to foster a healthier environment for both businesses and consumers within China’s rapidly growing digital economy.
On the industrial front, the National Development and Reform Commission announced the allocation of 150 billion yuan ($20.7 billion) in special long-term bonds. These funds are designated for large-scale industrial upgrades across seven key sectors: manufacturing, agriculture, education, transportation, cultural tourism, and medical care. The initiative seeks to promote industrial transformation and modernization throughout the country.
Furthermore, the State Council approved a draft law on hazardous chemicals safety, which will be submitted to the National People’s Congress for review. The proposed legislation aims to bolster corporate responsibility, improve regulatory enforcement, and reduce risks through cross-departmental collaboration. Measures include upgrading safety management systems, training workers, and phasing out outdated chemical facilities to minimize accidents.
These comprehensive measures reflect China’s commitment to fostering innovation, safeguarding public welfare, and propelling economic growth. By enhancing support for the platform economy and prioritizing safety and modernization in key industries, China continues to position itself at the forefront of global economic development.
Reference(s):
cgtn.com
