Liu He: Tech Platforms, Private Businesses Must Be Supported (Full Translation)

At meeting chaired by Wang Yang, Liu He expresses support for tech IPOs at home and abroad


May 17, 2022

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May 17, 2022

Translated by Graham Webster. Edited by Sam George and Johanna Costigan.


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CPPCC Convenes Special Meeting on 'Promoting the Continued Healthy Development of the Digital Economy'; Wang Yang Attends and Speaks

BEIJING (Xinhua, May 17, 2020) – The Chinese People's Political Consultative Congress (CPPCC) on May 17 convened a special meeting in Beijing on Promoting the Continued Healthy Development of the Digital Economy. Member of the Politburo of the Chinese Communist Party (CCP) Central Committee and Chairperson of the CPPCC Wang Yang attended and spoke. Li emphasized that it is necessary to earnestly study and grasp General Secretary Xi Jinping's important discourse on the development of the digital economy; to scientifically study and discuss the situation; to strengthen confidence in development; to treat dialectically and comprehensively grasp the relationship between development and security; to continuously strengthen, improve, and grow the digital economy; and to make it better serve and integrate into the new development pattern and the promotion of high-quality development.

Nearly 100 CPPCC members participated in the conference. Twenty-nine members and experts addressed the meeting, and more than 140 members expressed opinions through the members' work platform. The members believe China's position as a major country in digital economy development is stable, and the prospects for future development are vast. It is necessary to give play to the advantages of the New Whole State System and the super-large scale market, to strengthen strategic breakthroughs in critical core technologies, and to firmly grasp in our own hands sovereignty over the development of the digital economy. The integration of the digital economy and the real economy must be deepened; small and medium enterprises must be guided in their digital transformation; the development potential of the industrial internet must be fully unearthed; and new generation information technology must be spurred to add intelligence to equipment, value to enterprises, and capability to industries. It is necessary to clarify data property rights, usage rights, operations rights, collection rights, etc., and to build a more secure and efficient market for data factors. It is necessary to strengthen overall coordination, innovate in supervision methods, complete the digital economy governance system, and stimulate the vitality of enterprise innovation on the foundation of safeguarding national cyber and data security. It is necessary to encourage international cooperation in the digital economy and to actively participate in the course of global data governance. 

Member of the Politburo of the CCP Central Committee and Vice Premier of the State Council Liu He attended and spoke at the conference. He said, since the 18th Party Congress, under the strong leadership of Comrade Xi Jinping as the core of the Party Center, China's digital economy development successes have attracted worldwide attention. The global digital economy is exhibiting new features such as intelligentization, quantumization, blending across boundaries, deep permeation, and exponential transformation. It is necessary to work hard to adapt to the transformations brought by the digital economy in all aspects, and to improve comprehensive national power and international competitiveness. It is necessary to wage a successful battle for the strategic ground of critical core technologies, improve the quality of basic research, and focus on the research and development and diffusion of advanced applied technology. Entrepreneurs are the most important agents of innovation; it is necessary to support the platform economy and the continued healthy development of the private economy, to research and support specific measures for the standardized and healthy development of the platform economy, and to urge platform enterprises to participate in the great science and technology innovation project of the nation. The relationship between the government and the market must be handled well, plans formulated comprehensively, laws and administrative regulations completed, government direct investments increased, the quality of digitization improved for all ethnicities, and digital enterprises supported to list on domestic and foreign capital markets. The development of the digital economy must support opening to the outside world, in particular, focusing attention and efforts on people and using openness to spur competition and competition to spur innovation.

CPPCC Vice Chairperson Zhang Qingli chaired the morning session. Ho Hau-wah, Li Bin, Bate'er, Wang Yongqing, He Lifeng, Zheng Jianbang, Gu Shengzu, and Gao Yunlong attended the conference. Responsible comrades from Party Center, and relevant departments and units of the State Council attended to listen to opinions and advice and engaged in consultation and exchange with CPPCC members.

Chinese-language original

全国政协召开“推动数字经济持续健康发展”专题协商会 汪洋出席并讲话

新华社北京5月17日电  全国政协17日在京召开“推动数字经济持续健康发展”专题协商会,中共中央政治局常委、全国政协主席汪洋出席并讲话。他强调,要认真学习领会习近平总书记关于发展数字经济的重要论述,科学研判形势,增强发展信心,辩证看待和统筹把握发展和安全的关系,不断做强做优做大数字经济,使之更好服务和融入新发展格局、推动高质量发展。