Xi: crush bad digital economy

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SHANGHAI (Reuters) — President Xi Jinping has called for improved regulation and governance of China’s digital economy to guard against its “unhealthy” development as Beijing aims to boost the sector’s contribution to the country’s growth.In an essay in the ruling Communist Party’s publication Qiushi on Saturday, Xi called for focusing on key areas including integrated circuits, displays, communications equipment and intelligent hardware.China should “cultivate a number of enterprises with international competitiveness, and leading ecological firms with control over industrial chains, to create world-class digital industry clusters,” he said.“We must see that compared with large and powerful countries in the global digital economy, China’s digital economy is big but not strong, and fast but not superio …

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