Political Adviser Calls For Policies That Nurture Tech Unicorns, Not Harm Them

China should refine its policy framework to offer greater tolerance for startup businesses and reduce regulatory barriers for private enterprises to allow them to develop the digital economy and pursue technological innovation, a political adviser said during this year’s legislative meetings.

Restrictive measures should only be adopted with caution, and policy should be aimed at lowering operational costs for digital economy firms, said Lu Ming, Director of Shanghai Institute for National Economy of the Shanghai Jiao Tong University and a delegate of the Chinese People’s Political Consultative Conference (CPPCC), the top political advisory body.