China Singapore Finance, December 29 (Zuo Yukun) "Regulating the governance of platform behavior is to support orderly development, support continuous innovation, and ultimately lead to common prosperity." December 29, Vice President of the National Development Research Institute of Peking University Huang Yiping interpreted the relationship between standardized platforms and common prosperity in this way at the 2021 Sino-Singapore Finance and Economics Conference.

Huang Yiping, deputy dean of the National Development Research Institute of Peking University, delivered a keynote speech at the 2021 Sino-Singapore Finance and Economics Annual Conference.

Photo by China News Agency reporter Tian Yuhao

　　Huang Yiping said that in the traditional economy, department stores, farmer's markets, and even universities can all be regarded as platform companies.

However, the digital platform we are talking about is a new business form created in the era of digital technology. It has broken through some of the limitations of traditional enterprises in terms of speed, scale, and content. Therefore, its revolutionary influence is unprecedented.

　　For the earth-shaking changes brought about by platform companies to economic activities, Huang Yiping summed it up with "three rises and three drops": "three rises" is to expand scale, improve efficiency, and improve experience, and "three drops" are to reduce costs, control risks, and reduce exposure.

"But at the same time, there have also been many problems, such as the protection of personal data privacy, anti-competitive behaviors such as'choose one out of two', big data maturity, discriminatory pricing, etc. are all outstanding."

　　"So, this may be the objective reason for the government to launch a series of platform economic governance measures. We really need to do this now." Huang Yiping said.

　　As for the purpose of regulating platform behavior, Huang Yiping believes that it is to support orderly development, support continuous innovation, and ultimately lead to common prosperity.

　　Why is common prosperity related to platform economic development?

Huang Yiping explained that, first of all, the long-tail effect of the platform is very inclusive. For example, digital finance solves the problems of reaching users and makes the development of inclusive finance possible; in addition, the platform provides entrepreneurial innovation for many people. The opportunity for employment, and even the threshold for employment has also been lowered, which is of great help in promoting common prosperity.

　　Huang Yiping believes that there are several aspects of standardizing platform behavior that need attention:

　　First of all, to achieve fair competition, there must be an effective market rule.

Whether it is between platforms, users on the platform, or companies, it should be an effective market. An effective market must prevent monopoly and let the return of each element be determined by the market mechanism. Income distribution is the most effective Yes, it is also the fairest for everyone.

　　Second, we need to consider more policy measures. There are government taxation, including support for the social welfare system, support for low-income groups, how to restructure the entire taxation system, and how to fit the platform economy. There are still many articles that can be done.

　　Third, the platform itself has three identities: an enterprise, a market, and regulation and supervision. Under this circumstance, its policies may have some particularities, but it also places higher requirements on the platform itself.

"The platform should be a large responsible platform, including taking on more social responsibilities to support common prosperity." (End)