The State Council released a circular on Aug 8 to promote the stable and healthy development of the platform economy.

The platform economy, as a new growth engine and way of organizing production, has contributed to the optimization of resources, upgrading of industries, expansion of consumption, and the creation of jobs, the circular said.

To further optimize market entry conditions, the circular said efforts should be made to facilitate registration for market entities involved in the platform economy, and to set reasonable industry access regulations and permits.

Regulations should be consistent with new business models and be conducive to fair competition, the circular said, while calling for the implementation of Internet Plus regulations.

To cultivate new growth points, new business models in the platform economy such as Internet Plus service industry, Internet Plus production and Internet plus entrepreneurship and innovation will also be encouraged, according to the circular.

5G and construction of the latest information infrastructure should also be strengthened, the circular said.

It also called for an optimized development environment for the platform economy, with data sharing between government departments and platform companies set to be enhanced, and an improved social credit system.

Legal rights of market players in the platform economy will be protected, the circular said.