China tech bosses hail Beijing’s guidance after year of regulatory storm
- Tencent’s Pony Ma and Alibaba’s Daniel Zhang, among others, pledged allegiance to the state’s policy direction, China’s internet watchdog says
- ByteDance China chairman Zhang Lidong vowed to explore the global market and compete against international companies
Bosses of major Chinese tech companies, including Tencent Holdings’ Pony Ma Huateng and Alibaba Group Holding’s Daniel Zhang Yong, applauded Beijing’s latest tech policy guidelines delivered at a symposium last month, the Cyberspace Administration of China (CAC) announced on Thursday.
Ma, founder and chief executive of social media and gaming giant Tencent, conducted a study session of the ideas shared in the symposium, which was organised to promote the “healthy and sustainable development of internet companies”, according to a statement published by the CAC.
“Ma said he once again felt the care and attention that the Communist Party’s Central Committee, State Council, and all levels of the government have paid towards the development of the internet industry,” the statement said.
“Tencent will continue to respond to the needs of the state, insist on the use of technology for good, promote the innovation of the social value of sustainability, improve the quality and efficiency of deepening reforms, and become better and stronger through regulated development.”
Meanwhile, Alibaba chairman Zhang said that regulations are created for the purpose of “healthier development”, and compliance is a precondition for business growth, according to the statement. The e-commerce giant, which was fined 18 billion yuan (US$2.8 billion) last year over antitrust violations, promised to provide better services to merchants on its platforms and roll out measures to assist small businesses.
(Alibaba is the owner of the South China Morning Post.)
The CAC symposium, which took place on January 28, brought together executives from 27 Big Tech firms in China, as well as representatives from the country’s economic planning agency, market regulator, and industry ministry.