China's top political advisor stresses development of digital economy

China's top political advisor Wang Yang on Tuesday urged continued efforts to boost the development of the digital economy.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, made the remarks at a consultation session held by the CPPCC National Committee in Beijing.

Twenty-nine political advisors and experts spoke at the meeting, while over 140 political advisors voiced their opinions via a mobile platform.

Recognizing China's institutional advantages and massive market size, they called for major breakthroughs in core technologies to retain the autonomy of developing the digital economy.

The political advisors suggested that the country deepen the integration of the digital economy and the real economy, advance the digital transformation of small and medium-sized enterprises, and fully unleash the potential of the industrial internet.

While clarifying various data-related rights and innovating regulatory measures to ensure national data security, China should encourage international cooperation on the digital economy and take an active role in global digital governance, they said.

Chinese Vice Premier Liu He, also a member of the Political Bureau of the CPC Central Committee, attended and addressed the meeting.

Liu stressed efforts to grasp key technologies, strengthen basic research, and push forward the development and utilization of cutting-edge technologies.

The country should support the sustained and healthy development of the platform economy and private sector, formulate measures to boost the orderly and sound development of the platform economy, and encourage platform businesses to participate in major national sci-tech innovation projects, Liu said.

The government also needs to ratchet up direct investment in the digital economy, support the listing of digital companies in the capital markets at home and abroad, and cling to the strategy of opening-up for the development of the digital economy, Liu added.