China seeks to leverage the platform economy

China Platform Economy

The Chinese government is to take a series of measures to support the ongoing development of businesses operating within the platform economy.

With the aim of leveraging SaaS and Internet-based technologies to boost slowing economic growth, the government will seek to both increase market access and reduce red tape in areas such as compliance and business registrations.

From a strategic perspective, the integration and amalgamation of IoT and internet-based software into the country’s manufacturing base will increase the competitiveness of its products.

Additionally, emphasis has been placed on providing a competitive environment for the platform economy by creating a transparent, integrated data-sharing system across public and private sectors.

Earlier this year, the government issued a seperate guideline on facilitating the growing sector, including a promise to foster a batch of $14 billion commodity markets by the start of 2020.

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