Zhejiang Encourages Platform Companies to Utilize Innovative Technologies for Future-Oriented Application Scenarios
Zhejiang province in China has recently released the “Implementation Opinions on Promoting the High-quality Development of the Platform Economy,” aiming to foster the growth of the platform economy and encourage companies to adopt innovative technologies for future-oriented application scenarios.
The document emphasizes the need for platforms to innovate in order to drive economic growth. It specifically highlights the use of blockchain, digital twins, and extended reality as innovative technologies that should be leveraged by platform companies to create multiple application scenarios for the future.
Furthermore, Zhejiang province plans to accelerate the development of the Metaverse industry, which refers to the virtual reality space where users can interact with a computer-generated environment and other users. The province will support the construction of a comprehensive test platform for the Metaverse, promote its application in various scenarios, and facilitate its chain, scale, and internationalization.
Additionally, platform companies are encouraged to participate in digital renminbi (China’s digital currency) pilots. This includes deepening the pilot applications in various scenarios such as retail transactions, living bill payments, and government services.
Zhejiang province also seeks to promote the transformation and construction of smart cities. It aims to implement smart service projects in communities, buildings, parks, and other areas, creating smart business districts, smart blocks, and future communities.
Furthermore, platform companies are urged to provide digital transformation technologies and services for key industries and specific scenarios.
To ensure the orderly development of the platform economy, Zhejiang province emphasizes the need for platform companies to comply with laws and regulations. The province encourages these companies to establish a platform system that encompasses “production services + business models + financial services.” Additionally, it emphasizes the importance of standardized development in supply chain financial services.
The “Implementation Opinions on Promoting the High-quality Development of the Platform Economy” demonstrates Zhejiang province’s commitment to fostering an innovative and technology-driven economy. By encouraging platform companies to embrace emerging technologies and create future-oriented application scenarios, the province aims to position itself at the forefront of economic development and digital transformation.
Platforms are now encouraged to utilize technologies such as blockchain, digital twins, and extended reality to drive economic growth and development in Zhejiang province. With a focus on the Metaverse industry, digital renminbi pilots, smart city construction, and digital transformation, Zhejiang is poised to become a thriving hub for platform-based innovation.