Chinese vice premier urges improved industrial innovation, sound development of platform economy

GUANGZHOU, June 17 (Xinhua) -- Chinese Vice Premier Zhang Guoqing has stressed the importance of efforts to improve the efficiency and quality of industrial innovation, and to promote the sound development of the platform economy.

Zhang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an investigation and research tour in south China's Guangdong Province, which lasted from Sunday to Tuesday.

He said that efforts should be made to integrate scientific and technological innovation deeply with industrial innovation, and to improve the platform economy's governance system to create a fair and orderly development environment for the sector.

According to Zhang, it is imperative that we use technological innovation as a guide, promote the research and development of key core technologies, and build a virtuous cycle in which technological breakthroughs drive industrial upgrading.

He also stressed the importance of improving laws and regulations related to the platform economy's rules, algorithms, charges and livestreaming sales, of strengthening regular supervision, and of cracking down harshly on irregularities stemming from irrational rat-race competition.