State planner NDRC studied platform companies’ development, support them to play more active role
POLICY & REGULATION
State planner NDRC studied platform companies’ development, support them to play more active role
POLICY & REGULATION

State planner NDRC studied platform companies’ development, support them to play more active role

 

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Chinese government departments, including the National Development and Reform Commission (NDRC), the top economic planner, recently conducted in-depth study into the development of platform companies including Tencent, Alibaba and Meituan and sorted out several typical investment cases, according to a government statement on Wednesday. 

According to the survey, platform companies have continued to increase their investment in areas such as technological innovation and real economy empowerment, it said.

In the first quarter of 2023, the companies among the top 10 in terms of market capitalization in mainland China increased their investment through their own investment or investment by their subsidiaries, and the share of their investment in areas such as chips, autonomous driving, new energy, and agriculture continued to increase, up by 15.6 percentage points on a quarter-on-quarter basis, according to the statement.

In the next step, the NDRC will work with other departments to continue showcasing typical investment cases of platform companies, and support them to play a more active role in leading development, creating employment and international competition, it said.