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The direction of the wind has changed, the central government adjusts the economic policy of the platform

2022-12-20T11:47:40.636Z


In the past few days, the policy adjustment announced by the Central Economic Work Conference has attracted a lot of attention in the public opinion field. One of the key points is the attitude towards the platform economy. It is expected that the central government will give greater support to the platform economy in the future.


In the past few days, the policy adjustment announced by the Central Economic Work Conference has attracted a lot of attention in the public opinion field.

One of the key points is the attitude towards the platform economy. It is expected that the central government will support the growth of the platform economy with greater efforts in the future.

I still remember that in 2020, the Central Economic Work Conference clearly stated: "

Strengthen anti-monopoly and prevent the disorderly expansion of capital

. Anti-monopoly and anti-unfair competition are the inherent requirements for improving the socialist market economic system and promoting high-quality development. The state supports the innovation and development of platform companies, enhances their international competitiveness, and supports the common development of public and non-public economies. At the same time, it must regulate development according to law and improve digital rules. It

is necessary to improve the monopoly identification of platform companies, the management of data collection and use, and the protection of consumer rights and interests. It

is

necessary to strengthen regulations, improve regulatory capabilities, and resolutely oppose monopoly and unfair competition." Although the statement includes "the state supports the innovation and development of platform companies and enhances international competitiveness", the focus is to strengthen anti-monopoly and prevent capital from being unfair. sequential expansion.

Also in 2020, when the new crown epidemic broke out, China successfully protected the lives and health of the vast majority of citizens when the virus was more toxic, and became the only major economy in the world that maintained positive growth that year. body.

In the same year, Ma Yun's evolution at the Shanghai Bund Financial Summit caused huge controversy, and he has since become extremely low-key.

Ant Financial, which was once the world's largest IPO, was suddenly suspended from listing.

Jack Ma poses for a photo outside the New York Stock Exchange ahead of Alibaba Group's initial public offering on September 19, 2019.

(Getty)

After entering 2021, under the policy requirements of the central government to "strengthen anti-monopoly and prevent disorderly expansion of capital", the platform economy has been rectified, and leading companies such as Alibaba and Meituan have been fined.

The off-campus education and training industry has suffered unprecedented and severe rectification, many enterprises have encountered serious survival difficulties, and many education and training practitioners have been forced to lay off.

The crisis in the real estate industry also broke out in an all-round way, and a large number of once-bright real estate companies fell into the plight of broken capital chains.

At the same time, criticism and even opposition to capital in the public opinion field reached a high point, and all kinds of satirical and attacking voices flooded the Internet. The formerly sought after "Papa Horse" suddenly became a representative of capital that was subject to great controversy.

Starting from the second half of 2021, the difficulties faced by the Chinese economy have become more and more prominent, and many people have experienced it personally.

At the Central Economic Work Conference at the end of 2021, the state reaffirmed "focusing on economic construction" and proposed for the first time that "my country's economic development is facing triple pressures of demand contraction, supply shock, and expected weakening." Adjustment of some policies.

The meeting emphasized at that time: "The socialist market economy is a great creation. There will inevitably be various forms of capital in the socialist market economy. It is necessary to give full play to the positive role of capital as a factor of production while effectively controlling its negative role. It is necessary to set up "traffic lights" for capital. ’, strengthen the effective supervision of capital in accordance with the law, and prevent the barbaric growth of capital. We must support and guide the healthy development of capital regulations, uphold and improve the basic socialist economic system, unswervingly consolidate and develop the public sector of the economy, and unswervingly encourage, support, and guide The development of the

non-public sector of the economy."

From 2020 "strengthening anti-monopoly and preventing the disorderly expansion of capital" to 2021 "to give full play to the positive role of capital as a factor of production while effectively controlling its negative role", "to set up "traffic lights" for capital ’”, which can be seen as a signal of positive change to some extent.

Meituan is a leading platform company in China, but it has been controversial in recent years.

(Reuters)

After entering 2022, on the one hand, the economic pressure has become more prominent, the lack of market confidence has become a relatively common problem, and the side effects of strict epidemic prevention measures have become more and more serious. "Concentrate on development and protect people's livelihood."

A news that has attracted much attention is the national teleconference on stabilizing the economic market held on May 25. The meeting pointed out that "in March, especially since April, indicators such as employment, industrial production, electricity and freight have dropped significantly, and the difficulties lie in certain areas. In some aspects and to a certain extent, it is even greater than when the epidemic was severely impacted in 2020." He emphasized again that "development is the foundation and key to solving all problems in our country. To do a good job in epidemic prevention and control requires financial and material resources. Development is needed to ensure employment, people's livelihood and risk prevention. support".

Regrettably, the development of the platform economy, which is a weather vane, is not satisfactory.

Professor Huang Yiping, former member of the Monetary Policy Committee of the Central Bank, pointed out in the article "Innovation Ability of the Platform Economy Should Be Strengthened Rather than Weakened",

"The development of China's platform companies began after they were connected to the Internet in 1994. Yes, a group of domestic Internet companies came into being soon”, “For more than two decades, this industry has been constantly shuffling”, “Before 2019, looking at the number of unicorn companies, China and the United States are almost equal to each other. It was flat, but then it began to lag behind, and the valuation of Xu Haocang’s platform has almost halved or even shrunk more in the past year or so

. ”

On December 18, 2018, Beijing, the celebration of the 40th anniversary of reform and opening up was held in the Great Hall of the People. The picture shows Tencent CEO Ma Huateng (left) and Alibaba founder Jack Ma (right).

(Visual China)

The article believes that the platform economy has played a major positive role. "The most important significance may be that for the first time China has the opportunity to follow the pace of the industrial revolution and be at the forefront of international economic and technological innovation." "Unfortunately, in the recent Over a period of time, the development trend of China's platform economy has reversed. The market valuations of almost all top platforms have shrunk sharply. The investment into the platform economy has decreased quarter by quarter. Many platforms are laying off employees. The founders of several major platforms have Retirement", "

The gap between China's platform economy and the United States has significantly widened, while platform companies in other parts of the world, especially Europe and Asia, are developing very rapidly. The number of emerging unicorn companies in India has surpassed that in China. This change is somewhat embarrassing. After all, as a developing country, China has the opportunity to stand at the forefront of international economic and technological innovation for the first time, and move forward side by side with international leading companies. Although in the process of strengthening supervision, the situation has weakened temporarily, It is also normal. However, if practitioners and investors are generally pessimistic, it may have a long-term impact on industry development, especially innovation activities

.”

The article suggested that “regulation should be a routine task, not a sporty task, and regulatory competition should be avoided”, “we should consider strengthening the overall planning and coordination of governance policies, and avoid the ups and downs of platform economic activities”, “avoid Simplified one-size-fits-all approach” to prevent “short-termization of long-term policies and fragmentation of systemic strategies.”

Under this situation, the recently held 2022 Central Economic Work Conference has made adjustments.

The meeting held that: "It is necessary to vigorously develop the digital economy, improve the level of normalized supervision, and

support platform companies in leading development, creating jobs, and showing their talents in international competition. Seize the new opportunities bred in the process of global industrial structure and layout adjustments, and have the courage to open up new fields. , win the new track

." From 2020 "strengthen anti-monopoly and prevent capital disorderly expansion" to 2021 "we must give full play to the positive role of capital as a factor of production while effectively controlling its negative role", "we must set up " "Traffic lights"", and now "supporting platform companies to lead development, create jobs, and show their talents in international competition", this is an obvious change.

On December 18, Yi Lianhong, secretary of the Zhejiang Provincial Party Committee, made a special trip to Alibaba Group to investigate and encourage them to strive to be a model student of standardized development, a leader in innovative development, and a supporter of integrated development.

The censorship of platform companies such as Didi and Meituan means that China's platform economy has entered the era of standardized management.

(Associated Press)

Many things in the world have both pros and cons.

The same is true for capital and the platform economy, which can not only play an extremely important role in promoting social development and improving the economy and people's livelihood, but may also cause problems such as capital hegemony, disorderly expansion, invasion of personal privacy, and polarization between the rich and the poor.

Because of this, the most reasonable attitude towards capital and the platform economy has never been from one extreme to another, never without supervision, never without innovation, but to optimize supervision, improve the level of supervision, and expand the capital and platform economy as much as possible positive effect.

It's too much to go too far, and the only way to do it is to keep the right way in response to the situation.

Just as Professor Huang Yiping said, "It is necessary and urgent to improve the governance of the platform economy, but when formulating and implementing governance policies, we must cherish this industry that can already compete with some leading international platforms, so as to promote them to become stronger." The original intention of doing well and becoming bigger” is the correct decision of the Central Economic Work Conference to “support platform companies in leading development, creating jobs, and showing their talents in international competition.”

The next key is to boost market confidence as soon as possible and stimulate social creativity. While improving the level of supervision, the platform economy has become an important field for China's rise and cornering overtaking.

Xi Jinping: I have always supported private enterprises and worked in places where the private economy is developed. The Central Economic Work Conference concluded. Shanghai, Liaoning and other provincial party secretaries put forward three key words. Restoring China's economic vitality and market confidence requires specific and sensible actions to stimulate the second. The first Central Economic Work Conference after the Ten Tenth Congress focuses on boosting market vitality and private economy

Source: hk1

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