Alibaba Group Holding, Tencent Holdings and Meituan are among a handful of tech companies praised by China’s powerful economic planning agency for their roles in supporting the nation’s technological progress and economic growth, a fresh signal that Beijing is putting on a friendly face towards Big Tech firms, reports the South China Morning Post. The endorsement by the National Development and Reform Commission (NDRC) on Wednesday morning was followed by an afternoon symposium held by Chinese Premier Li Qiang with representatives from major tech companies.
The meeting, which focused on ways to boost the healthy and sustainable development of the platform economy, was attended by Alibaba Cloud, Meituan, ByteDance-owned Douyin, and Xiaohongshu, according to a report by state broadcaster China Central Television (CCTV).
“The platform economy emerged along with the development of the times, providing space for rising demand and a new engine for innovation,” Li was quoted as saying.
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