Chinese Minister of Science and Technology Comments on Supervision of Tech Industry

At a press conference held on June 6, Wang Zhigang, the Minister for the Ministry of Science and Technology in China, responded to media questions regarding the regulatory restrictions on the technology industry are being relaxed.

At the press conference, some media outlets pointed out that the State Council announced measures to boost the economy and highlight the incentives for the technology industry. They asked which technology industries will play the biggest role in the economic recovery after the COVID-19 epidemic and if the series of incentives also means that last year’s regulatory restrictions on the technology industry will be relaxed.

Wang replied that science and technology can play a role when the economy and that the industry can develop smoothly or encounter problems. As far as science itself is concerned, all disciplines are intersecting. To form economic activities, industrial scale and proper product formation requires an organic combination of different disciplines and fields to support the development of the economy as a whole. In terms of the economic field and industrial field, they are also a combination of efforts by the two intersecting industries.

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Regarding the restraint and supervision of science and technology, Wang said that the management of any government is both incentivizing and restraining. The most important thing is to weigh the benefits of the economic and social development, and to see if these benefits are in accord with enterprise development in addition to the country’s rules and regulations. China is providing incentives in necessary areas and will adjust accordingly to navigate future developments.