The Big Ideas

Alibaba: 'Promote the healthy and sustainable development of the platform economy'
Alibaba: 'Promote the healthy and sustainable development of the platform economy'
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'推动平台经济规范健康持续发展--经济·科技--人民网'

April 10, 2021
BIG IDEA | ‘From the perspective of the long-term and healthy development of the platform economy, regulation by law and support for development are not contradictory, but are complementary and mutually reinforcing.'
The People’s Daily is the official newspaper of the Chinese Communist Party. So the views expressed are a fairly reliable indication of what the Party is thinking on any issue. Here are some excerpts translated from the Chinese.

‘The Alibaba Group’s monopoly case, which has attracted social attention, has been resolved:’

  • ‘On April 10, the State Administration of Market Supervision imposed administrative penalties on Alibaba Group in accordance with the law, ordered it to stop illegal activities, and imposed a 4% sales volume of 18.228 billion in 2019. Yuan fine.’

‘This punishment is a specific measure taken by the regulatory authorities to strengthen anti-monopoly and prevent the disorderly expansion of capital.’

  • ‘It is an effective standard for illegal activities of platform companies.'
  • ‘It does not mean denying the important role of the platform economy in the overall economic and social development.’
  • ‘It means that the state's attitude to support the development of the platform economy has changed, but it is necessary to adhere to the equal emphasis on development and regulation, grasp the law of platform economic development, establish and improve the platform economy governance system, and promote the healthy and sustainable development of the platform economy.’