Prof. WANG Chunhui, Qixin Chair Professor and Director of the Research Base for Cyberspace Governance and Rule of Law in Digital Economy, delivered a speech at the Academy Seminar on Digital Economy and Fair Competition, an item on the agenda of the Second Conference of the International Science, Technology and Innovation Forum of Boao Forum for Asia which was held via video link from December 15th to 17th. Other experts in law, economics and finance at home and abroad were also invited for roundtable discussions on topics like the impact of changes in the global regulatory environment on industries, fair competition and investors' responsibilities.

Also present at the seminar were ZHOU Xiaochuan, Vice Chairman of the Board of Directors of Boao Forum for Asia and former Governor of the People's Bank of China, James, professor at the School of Law of the University of California, Berkeley, Alessandro Teixeira, former special economic adviser to the president of Brazil and Vice Minister of Development, Industry, and Foreign Trade of Brazil, Koren Wong-Ervin, former legal adviser to the Federal Trade Commission of the US, Economist Rong Chen of the World Bank, LIN Haifeng, Tencent's Vice President, CHEN Long, Secretary General of Luohan Academy, etc.

In his speech about fair competition and investors' responsibilities, Prof. WANG pointed out that driven by data and algorithms, platform economy is rapidly on the rise, resulting in strong net effect and scale effect, and that relevant companies, due to their very nature and characteristics, not only exert a profound impact on the digital market structure, but also pose a challenge to traditional supervision and governance. Data and algorithms hold the key to governing platforms. He suggested that a fair regulatory system should be established to ensure a level playing field and a wellspring of innovation momentum. In this regard, he put forward four principles of supervising platform economy: First, a unified, open, orderly and fair competition order should be created; second, unfair competition and abuse of the dominant market position are strictly prohibited so as to protect the rights and interests of consumers; third, the functions of governance and resource allocation optimization of the platform entities should be given full play to so as to spur their innovation vitality while maintaining fair competition; fourth, the legitimate rights and interests of platform operators, business operators on the platform and consumers should be safeguarded.