Guidance to boost development

China’s latest guidance to promote development of the private sector will give full play to the dynamic role of the country’s internet and tech firms in making innovations and creating new jobs. An employee works on a cotton yarn production line at an intelligent mechanised workshop of a textile company in Ganzhou, Jiangxi province, in May 2022 As a representative of the digital economy and new economy, Yang said that such a guidance is “forward-looking”, making tech and internet companies feel excited and full of confidence about their future development. Pony Ma, chairman and CEO of technology company Tencent Holdings, said: “China’s platform economy has entered a brand-new development period, with the traditional business development model being transformed and renewed. Yang Hui, a member of the National Committee of the Chinese People’s Political Consultative Conference and chairman of Yunzhanghu, an online flexible job platform, said that the guidance has given the “greatest confidence” to platform companies to fully play their roles including driving employment.