According to China Finance, the Chinese Academy of Social Sciences (CASS) issued a research report on June 13, pointing out that Chinese tech companies are indispensable players in constructing China’s “common wealth.”

The sustainable development and corporate social responsibility of those companies have intersected with the common wealth goal of the state and society.

After a series of official regulatory crackdowns, online technology companies seem to have a new mission in the face of China’s uncertain economic outlook.

The study’s title is “From ‘New Economic Dynamics’ to ‘New Mission of Common Wealth” – Internet Platform Enterprises Help Common Wealth.”

The report estimates the contribution of 41 listed online businesses to the common wealth. The top three online companies in the overall index score are Tencent, Alibaba, and JD.com.

According to the report, given that the digital economy has become a new driving force for China’s economic development, online companies have become an “important force” contributing to China’s shared prosperity. 

Through innovation capabilities and advanced tools, China’s leading Internet companies have spawned many innovative enterprises and individual entrepreneurs, provided tens of millions of new employment opportunities, “relieved the country’s difficulties,” and become an essential boost for the promotion of “common prosperity.”

Li Haijian (李海舰 lǐ hǎi jiàn), a senior official from CASS, said that the Internet platform economy has the characteristics of an ecological economy, digital economy, scale economy, and scope economy. It is open, equal, inclusive, and free, and in theory, these features have natural properties that promote shared prosperity.

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