Zhejiang’s New Provincial Party Secretary Visits Alibaba

Yi Lianhong, the new provincial communist party secretary of Zhejiang, home province of Alibaba, visited the e-commerce giant’s campus on December 18 to learn more about its development process, business sectors, innovation achievements and development plans.

Yi stressed that it is necessary to thoroughly understand the policies on promoting the standardized, healthy and sustainable development of a platform economy. Further, the company need to promote the healthy development of capital, standardize capital behavior, stimulate innovation vitality, enhance core competitiveness, and demonstrate its role in international competition and society. The new top communist party official in Zhejiang also paid a visit to local communities, science and technology platforms, and cultural heritage parks.

The visit came two days after China’s central economic working conference, chaired by President Xi Jinping, issued a statement saying that the digital economy and normal supervision level would be improved, and platforms would be encouraged to show their talents in leading development, creating jobs and international competition.

Wen Jia, President of Public Affairs for Alibaba, while attending the 9th International Forum on Fair Competition Policy of China in mid-November, proposed that, in the past year or so, under the guidance of market supervision and other departments, Alibaba‘s compliance governance has achieved great results, which has had a positive effect on promoting fair and orderly competition and helping small and medium-sized merchants to boost their confidence. According to the report released by Alibaba in May 2022, more than 90% of the interviewed merchants expressed satisfaction with the platform’s compliance governance, and consumer service satisfaction also increased by 6.6% year-on-year.

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Regarding the platform economy, Zhongtai Securities said that, from the current policies, the support for the standardized development of the platform economy is more distinct, and a number of investment cases launched in the future can play a guiding role in the industry, thus boosting market expectations.

Sealand Securities believed that, considering the importance of data elements and the important role of the platform economy in employment and ensuring market supply, more supporting policies will emerge. In addition, the next stage of supervision will standardize the development of a digital economy and a platform economy with a clear demarcation line, and promote their development and growth in a reasonable and legal way.