Guideline supports platform companies in development drive

China will support platform companies to make use of their advantages in creating jobs, driving consumption and participating in international competition, according to a top-level national guideline issued on Wednesday.

The guideline, released by the Communist Party of China Central Committee and the State Council, the country's Cabinet, detailed a total of 31 measures to drive the development of the private economy.

Notably, the guideline vowed to guide the platform economy to develop in the direction of openness, innovation and empowerment and promote its healthy and sustainable development.

Pony Ma, chairman and CEO of leading tech company Tencent Holdings, said: "China's platform economy has entered a brand-new development period, and the traditional development business model is being transformed and renewed. The value of platform companies in driving (consumption) demand, innovative development, employment, entrepreneurship as well as public services is waiting to be fully tapped."

The guideline also proposed improving the legal system that regulates and guides the development of private capital and to set up "traffic lights" for it. A number of "green light" investment cases will also be launched.

"Green light" investment refers to investment deals involving new technologies and services that can help empower the real economy, industry experts said.