Zhejiang amplification move! 100 companies including Alibaba and NetEase participated in the economic conference | Platform | Enterprises

Release time:Apr 14, 2024 02:00 AM

"Three Arrows Strike Together", Zhejiang is amplifying its efforts to promote the development of platform economy!

On July 5th, Zhejiang held the Provincial Conference on High Quality Development of Platform Economy, with representatives from 100 platform enterprises including Alibaba and NetEase attending. This is the first provincial-level conference in China with the theme of platform economy.

At this conference, Zhejiang launched three arrows in one go:

One is to issue the Implementation Opinions on Promoting High Quality Development of Platform Economy, which is the first implementation opinion in China to promote high-quality development of platform economy.

The second is that the State Administration for Market Regulation and Zhejiang have signed a strategic cooperation agreement on jointly promoting the high-quality development of the platform economy. The State Administration for Market Regulation will support Zhejiang's platform economy in institutional innovation, policy pilot projects, and capacity building.

Thirdly, the Zhejiang Provincial Government signed a comprehensive strategic cooperation framework agreement with Alibaba. The last time the two sides signed a cooperation agreement was three years ago.

According to the Implementation Opinions, Zhejiang will encourage platform enterprises to participate in the pilot of digital RMB, support and guide eligible platform enterprises to go public both domestically and internationally, implement a "traffic light" system for capital investment in the platform economy, and provide competitive compliance guidance to platform enterprises.

Support eligible platform enterprises to go public both domestically and internationally

The Implementation Opinions introduce 25 measures from five aspects, including building a more dynamic innovation system, a diversified and integrated ecosystem, a precise and efficient service system, a fair and transparent rule system, and an efficient and collaborative regulatory system, to fully support platform enterprises in leading development, creating employment, and international competition, mobilize the whole province to explore new paths, stand at the forefront forever, and accelerate the construction of a strong province with high-quality development of platform economy.

According to the Implementation Opinions, by 2027, the innovative vitality of Zhejiang's platform economy will burst forth, and the development ecology will be comprehensively optimized. The number of network operating entities and platform network transaction volume will continue to grow steadily. The role of the platform economy in optimizing resource allocation, promoting industrial upgrading, and expanding the consumer market will be fully played. Leading the country in enhancing the competitiveness of platform enterprises and promoting fair competition and regulatory innovation, striving to build a leading province in modernizing platform economy governance.

The Implementation Opinions point out that Zhejiang will support the integration and innovation of platform economy elements, pilot the marketization process of key industry data elements, and carry out pilot trials in industrial manufacturing, commercial logistics, social governance and other fields. Expand the sources of factors, accelerate the circulation and restructuring of factors, and promote innovation in the development model of platform economy. Pilot exploration of a new model of resource sharing that separates ownership and usage rights, revitalizing idle resources such as cloud platforms, development tools, and workshops, and cultivating new forms of sharing economy.

Zhejiang also encourages platform enterprises to participate in the pilot project of digital RMB, deepening the pilot application in retail transactions, life payment, government services and other scenarios.

In terms of enhancing the platform's consumer creativity, Zhejiang will implement tax incentives for second-hand goods and encourage more merchants to participate in online transactions of second-hand goods.

It is worth mentioning that the Implementation Opinions propose to support and guide eligible platform enterprises to go public both domestically and internationally, and strengthen compliance guidance and coaching services for platform enterprises planning to be listed.

Implement the "traffic light" system for capital investment

According to the Implementation Opinions, Zhejiang will establish and improve inclusive and prudent regulatory rules, formulate regulatory rules and standards in different fields, and leave sufficient space for the development of new forms of platform economy while strictly adhering to safety bottom lines.

Specifically, for new business formats that may not be visible at the moment, a certain observation period should be set up, and flexible enforcement methods such as administrative guidance, administrative interviews, and warning should be adopted. Administrative penalties and other enforcement measures should be used with caution. Explore "sandbox regulation" and trigger based regulation for new business models that are still in the cultivation period and have growth potential, achieving an organic unity of "no disturbance at all" and efficient regulation. For some relatively mature new business formats, platform enterprises are encouraged to actively formulate enterprise standards, participate in the formulation of industry standards, and improve product quality and service levels.

In terms of market access rules for the platform economy, Zhejiang will implement a "traffic light" system for capital investment, strengthen investment monitoring and supervision, implement a "yellow light" warning for the risk of disorderly expansion across industries and fields, and prevent problems such as exclusion and restriction of competition caused by capital mergers and acquisitions.

At the same time, we will prudently introduce policies to restrict the entry of new business models and provide innovative enterprises with opportunities to take the lead. Relax the access restrictions for integrated products and services, and allow relevant market entities to enter as long as they do not violate laws and regulations. Relax the registration restrictions on enterprise names in emerging industries and allow the use of words that reflect the characteristics of new business formats as enterprise names.

The Implementation Opinions also pointed out that Zhejiang will implement competition compliance management standards for platform enterprises and provide competition compliance guidance. Guide the platform to orderly promote ecological openness and provide fair services to the outside world in accordance with unified rules.

Zhejiang will also guide platforms to improve algorithm transparency and interpretability, and encourage industry associations, social organizations, and platform enterprises to develop and introduce algorithm standards for the rational use of personal information. Actively guide platform enterprises to conduct data export risk assessments and strengthen data export monitoring and early warning.

The Implementation Opinions also emphasize the strict implementation of relevant laws and regulations in the financial business field of platform enterprises, and prohibit illegal activities in fund payment and settlement business. Implement the regulatory system for financial holding companies, strictly regulate the investment of platform enterprises in financial institutions and local financial organizations, strengthen risk management and related party transaction management, and urge platform enterprises and their controlling and participating financial institutions to strictly implement capital and leverage requirements. Standardize the cooperation between platform enterprises and banking and insurance institutions, and strictly prohibit platform enterprises from violating the business scope restrictions of regional financial institutions through sales, diversion, and other means.

The platform economy is entering a new stage

From opposing "disorderly capital expansion" in 2020 to setting "traffic lights" in 2021, and then to "normalized regulation" in 2022, the platform economy has gone through a three-year industry reform period. At the end of last year, the Central Economic Work Conference proposed to support platform enterprises in leading development, creating employment, and international competition, releasing an important signal to encourage healthy and standardized development of platform enterprises.

At the Zhejiang Platform Economy High Quality Development Conference, Yi Lianhong, Secretary of the Zhejiang Provincial Party Committee, stated that the platform economy is a major advantage of Zhejiang. In recent years, Zhejiang has been focusing on promoting the standardized and healthy development of the platform economy, leading the country in scale, increasingly diversified business formats, and obvious driving effects. As the development of the platform economy enters a critical period of transformation and upgrading, we should grasp the correct direction, policy orientation and development direction in the major mission of promoting common prosperity and Chinese path to modernization, stimulate new vitality, add new impetus, release new effectiveness, shape new advantages of the platform economy to a greater extent, and promote the platform economy to make new contributions.

Yi Lianhong pointed out that in order to promote the high-quality development of the platform economy, it is necessary to innovate governance and optimize the environment through the cohesion of various forces. It is necessary to strengthen leadership and guarantee, governance and supervision, and capacity and atmosphere, improve policy systems, promote inclusive and prudent supervision, strengthen industry self-discipline, and form a better social atmosphere that supports the standardized, innovative, and integrated development of the platform economy.

"These directions and encouragement are important spiritual guidelines for Alibaba's high-quality development of the platform economy." Zhang Yong, Chairman and CEO of Alibaba Group and Chairman and CEO of Alibaba Cloud Intelligence Group, stated that Alibaba will always adhere to long-term principles, firmly invest in technology, firmly invest in globalization, firmly root in the fertile land of Zhejiang's digital economy, rely on the great tree of Zhejiang's real economy, leverage technology and platform advantages, and help Zhejiang build a globally competitive digital industry cluster.

Ding Lei, chairman and CEO of NetEase, also said that NetEase is very confident that through its own hands, through joint efforts with the government and other peers, it will start a new round of high-quality development and help and witness the second climb of Zhejiang platform economy. According to reports, the current Netease's primary task is to explore the innovative application of AI models as quickly as possible. In the past three years, Netease has invested nearly 40 billion yuan in research and development.

As for the challenges and opportunities facing the platform economy, Zhang Yong said that this year, a new wave of technology represented by artificial intelligence swept the world, and the world's leading Internet technology companies are stepping up their layout. The resonance between new technologies and platform economy models has opened up new development space and prospects. Against this historical background, the platform economy is entering a new stage, facing trends and opportunities in four aspects: intelligence, infrastructure, entity, and globalization.

Ding Lei also stated that the technological upheaval led by AI this year is fierce. How can we respond to the challenges and promote the next round of high-quality development in the future? There are three key points: first, to give enough confidence to future development, so that market entities can establish and strengthen a stable expectation that "tomorrow will definitely be better"; Secondly, we must attach great importance to the development of future technology and firmly grasp the once-in-a-century historical opportunity of AI; The third is to give higher value to future globalization, actively compete with world leading enterprises, and continuously expand market share.

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