Industry experts predict that China’s tech and internet companies will play a larger role in job creation and employment this year, following the country’s recent push to develop platform companies. Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, believes that restoring the expectations and confidence of platform companies will drive them to promote high-quality employment and integrate digital technologies with the real economy to offer new occupations and employment opportunities. Professor Yang Weiguo at Renmin University of China adds that the platform economy will greatly drive the employment market and reduce discrimination against individuals with disabilities. The Central Economic Work Conference has also emphasized its support for platform companies to boost economic growth, job creation, and international competition.
According to reports, Tencent’s digital ecosystem is expected to create 31.8 million new jobs and 147 new job categories in the next five years. Ant Group has helped create 1.48 million jobs and stabilize 5.25 million positions. Moving forward, tech and internet companies are expected to lead digital transformation in various sectors, driving innovation ecosystems related to artificial intelligence, cloud computing, blockchain, big data, and processors. A white paper by the China Academy of Information and Communications Technology shows that China’s digital economy reached $7.1 trillion in market scale last year, the second-largest globally. Wang Xiaoming at the Institute of Science and Development at the Chinese Academy of Sciences believes that the platform economy has undergone healthy governance and now has the conditions to radiate vitality and accelerate development.
As China’s platform companies continue to grow, they are expected to have a significant impact on the country’s economy and employment landscape. These companies have already helped to create millions of jobs and are poised to create even more in the years to come.
One of the key advantages of platform companies is that they can help to reduce discrimination in the labor market by focusing on individuals’ skills rather than their physical characteristics. This could be particularly beneficial for individuals with disabilities or other barriers to employment.
Moreover, the growth of the platform economy is expected to drive digital transformation in a range of industries, including consumption, entertainment, and healthcare. This could lead to the formation of new innovation ecosystems, which will help to drive economic growth and increase global competitiveness.
Overall, China’s tech and internet companies are well-positioned to lead the country’s economic development in the coming years. As long as they continue to innovate and invest in new technologies, they will be able to drive job creation, boost economic growth, and improve living standards for millions of people across China.