The Cyberspace Administration of China said on Friday that the current digital economy "faces challenges," promising to enhance domestic development and competitiveness through close cooperation between tech companies and the government.
The agency said it is in favor of foreign investment in domestic companies, but that it is investigating potential abuse of data by international governments. It added it is supervising the efforts of tech firms to address issues, such as mobile transportation giant Didi, which was fined $1.2 billion in July for violating Chinese network security, data, and personal information laws.
