Data is a new core production factor in the era of the platform economy. The open sharing of data is an inherent requirement for the platform economy’s innovation and development and an inherent requirement for improving the quality of platform financial services. Recently, the seminar on “Anti-monopoly and Prevention of Disorderly Expansion of Capital” was successfully held.

Scholars from the Renmin University of China, Wuhan University, Sichuan University, Zhengzhou University, China University of Political Science and Law, Beijing Foreign Studies University, Beijing Jiaotong University, and practical experts from regulatory agencies, industry associations, and law firms participated in the discussion. The scholars and industry leaders provided the digital economy’s anti-monopoly legislation, enforcement opinions and suggestions from the Internet platform to close the third-party shared API interface.

Experts at the seminar generally believed that the current large-scale Internet platform “ban” and other behaviors are typical behaviors that hinder the platform economy’s innovation and development. The development of the platform economy needs to strengthen the supervision of the anti-monopoly field. Only by regulating the industry structure and promoting the openness and sharing of data can it encourage the platform economy’s innovation and long-term healthy development.

Yang Dong, executive director of the Competition Law Institute of the Renmin University of China, believes that platform monopoly will hinder innovation. Unlike market power in the industrial era, the overlap of capital power and data power in the digital economy era will bring more complex regulatory issues and lead to obstacles of real independent innovation in China’s market.

Because the competition problems brought about by the platform economy are universal, preventing the monopoly of large-scale digital platforms has become the mainstream of legislation in various countries.

In the face of the phenomenon of capital unordered expansion, we need to pay attention to the problem of blocking data for innovation. We should enhance the timeliness of regulatory enforcement to strengthen its deterrence; uphold the idea that anti-monopoly enforcement is a productive force, and regulation is a tool rather than a purpose to continuously promote the development of the overall digital economy market.