Central Economic Work and US market

At the just-concluded Central Economic Work Conference, i had summarized economic work in 2022  on the context on Chinese markets, analyzed the current economic situation, and deployed economic work in 2023. Readers should refer to my previous posts in these topic...In this one I will analyse the impact on US market in this especially on US tech market...

One of the things worth noting is that the content of the platform economy in this meeting has changed a lot from last year. This meeting emphasized the need to vigorously develop the digital economy and improve the level of normalized supervision. Support platform companies to show their skills in leading development, job creation, and international competition. Therefore, the economic status of the platform has been affirmed by the central government. This year's meeting did not mention the content of antitrust and disorderly expansion of capital. Instead, it emphasized the need to vigorously develop the digital economy and improve the level of normalized supervision. This reflects the central government's resumption of development of platform enterprises, recognizing the positive role of platform enterprises in the allocation of economic resources and supply and demand, and also believes that the development of the platform economy is an effective way to improve economic efficiency. This will optimize the policy environment of platform enterprises and increase the support of platform enterprises. Platform enterprises will usher in new development. In addition, the role of the platform economy is not limited to China. It is mentioned from the conference to support the platform economy to "show its strength in international competition", which is relatively rarely mentioned in previous meetings. This not only means that the central government's affirmation of the role of platform economic enterprises in China's digital economy, but also means that the central government places the platform economy in higher international competition. According to public data, as of the end of 2021, among the top ten companies with the world's largest market capitalization, there were 7 platform companies, namely Apple.$Apple(AAPL)$ US, $Microsoft(MSFT)$ Microsoft .US, Amazon.US, Alphabet$Alphabet(GOOG)$ , Facebook, BullishTencent Holdings .HK, Alibaba -SW.$Alibaba(09988)$ HK. As a very important part of globalization, the digital economy is undoubtedly part of the domestic globalization layout. With the policy of "showing great skills in international competition", the overseas development of platform economic enterprises will inevitably be accelerated. Coupled with the recent progress in China-US audit supervision cooperation. The market generally believes that this marks that Sino-US audit supervision cooperation has achieved positive results, and the risk of Chinese stock market delisting has been temporarily lifted, and its valuation has ushered in a marginal improvement momentum. All signs are showing that as the high-level attitude towards the platform economy becomes clearer, platform economic enterprises are also ushering in the best time for development.

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