China vowed greater support for platform-based companies and the digital economy during the annual Central Economic Work Conference, a key conference to decide the economic outlook and policies for the year ahead, from Thursday to Friday.

Industry insiders said that it marked an easing of regulations related to the internet and tech sectors that have undergone a healthy correction in recent years.

The conference said that it is necessary to vigorously develop the digital economy and meanwhile improve the level of normalized supervision.

The country will support platform-based companies to leverage their abilities in leading development, creating jobs, and participating in international competition, the conference said.