The digital platform economy refers to the use of internet technology, combined with related rules and regulations to create a derivative service industry and economic benefits. And it plays an important role in expanding consumer markets and stimulating employment.

With the steady increase in residential income levels, demand for service consumption is up, accounting for more than 50 percent of total consumer demand in recent years. At a Thursday press conference, the authorities explained plans and achievements in the process of promoting platform economy.

The Ministry of Industry and Information Technology introduced the industrial internet, which will rely on the use of 5G technology. The ministry also said that the network supervision mechanism and credit system of online ride-hailing should be further strengthened.

Moreover, the National Development and Reform Commission announced a renewed focus on the innovation of "Internet plus the service industry," which would cover medical health, education, tourism, entertainment, and housekeeping.

To popularize the use of the platform economy, it's necessary to promote data sharing and exchanges between government and enterprises. Experts say that data sharing will reduce data acquisition costs. The inter-provincial medical insurance business is one of the projects with benefits from the platform economy strategy.