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Ma: we should not be afraid of innovative enterprises becoming giants. We should be afraid of giants

date: 2019-08-28
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The United States is a country on wheels, and China should and has the opportunity to become an Internet country, said jack ma, co-chairman of the UN high-level group on digital cooperation, at the China international intelligent industry expo 2019 in chongqing, capital of southwest China's chongqing municipality, Aug. 26, 2018.The Internet was invented in Europe and the United States, but it is most widely used in China.'The development of China's digital economy today, with a company as big as BAT, I think it is consistent with the size of China's economy in the past two decades to become the world's second largest economy.'



Ma said: 'now some people say that China's Internet giants are worried that Chinese enterprises will become bigger and bigger. Personally, I think there are not more but fewer BAT companies, and there should be dozens of such enterprises in a country like China.Many people are worried about innovative enterprises and market enterprises becoming big. China's Internet companies are built on innovation and the market. We should not be afraid of innovative enterprises becoming giants.



Ma said, technology is developed, not supervision, the same is true of finance, supervision is not good financial supervision.It is not that development always brings risks, but regulation does not.Sometimes inadequate and backward regulation is itself a huge risk.



'many governments are setting up data bureaus now,' Mr. Ma said.The development of the data industry does not depend on the work of the data bureau, it is the work of every department.What we're most worried about is that the data bureau is going to be the regulatory authority, the data bureau is going to be the development bureau.


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