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Han Zheng vows support for Internet economy
韩正主持召开座谈会听取互联网金融专家意见建议

Source: Shanghai Daily | July 15, 2014, Tuesday | Online Edition

SHANGHAI Party Secretary Han Zheng said on July 14 that the city government will support the Internet economy and help local industries to upgrade so as to sharpen the city’s competitiveness. He was talking to experts in Internet finance after hearing their suggestions on developing the Internet economy.

Han said the genes of Internet can be found in all aspects of economic and social life. A booming Internet economy is contributing to the city’s economic transformation and industrial upgrade and modernizing people’s life.

He said the city government is encouraging innovation, upholding the principle of administration by law, and improving its supervision of Internet enterprises.

Experts at the meeting included third-party payment company PNR chairman Zhou Ye, online retailer Yihaodian chairman Yu Gang, Alibaba Microfinance Group CFO Jing Xiandong, Shanghai Jingerwei Data Technology chairman Mi Wanjun, and Kuaiqian Payment Settlement Information Co vice president Wang Liang.

Han took notes of their suggestions and reassured them of continued efforts to change government functions by shifting emphasis from administrative approval to regular supervision.

He said the development of the Internet economy should avoid risks of online financial services to guarantee national security and macro-economic security.

Han added that a salient feature of the Shanghai Pilot Free Trade Zone is the negative list for investment and the zone’s biggest attraction is financial innovation. The Shanghai government will race to change its functions and help local industries to become more competitive.

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