Support welcomed for platform economy

Better protection

In March, the SAMR said antimonopoly work this year would be carried out steadily and in a regulated, transparent and predictable manner to promote high-quality economic development and better protect the public interest.

As part of ongoing efforts to restore sound market order and promote fair competition, the regulator has pledged to strengthen the rule of law regarding antimonopoly supervision.

It will step up efforts to improve the legal system for fair competition and also provide clearer guidance for market entities, with a focus on stabilizing the macroeconomy, safeguarding people's well-being, and strengthening antitrust regulation and law enforcement in key areas.

The SAMR said intensified efforts should be made to build a modern regulatory system, enhance governance to ensure fair competition, promote enterprises in strengthening compliance management, and enable the nation to play a bigger global role in formulating antimonopoly rules.

Pu Chun, deputy head of the SAMR, said more efforts should be made to constantly improve the fair competition mechanism, establish a comprehensive oversight system, and guide sound and orderly development of capital in accordance with laws and regulations.

Ouyang Rihui, assistant dean of the China Center for Internet Economy Research at the Central University of Finance and Economics in Beijing, said the country's antitrust efforts are expected to continue this year, and stabilization work will be crucial.

"Antitrust regulatory measures will abide by the rule of law, striking a balance between stimulating innovation and supervision," Ouyang said, adding that such action will help stabilize the capital market, reassure investors and boost their confidence in the platform economy's long-term development.