Menkop UKM: Indonesia Needs An Example Of China Tightening Digital Market Rules

Coordinating Minister for SMEs Teten Masduki (Photo: Doc. Kemenkop UKM)

JAKARTA - Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki said Indonesia needed to follow China's example in matters of digital economy trading. Where China applies very strict rules for imported products.

Teten said, China's digital market is controlled by domestic, while imports are only recorded at 10 percent. Within 10 years in China 2012-2022, said Teten, the digital economy has increased 5 times. It even accounts for 41.5 percent of GDP

"I think we have to imitate China. China's digital transformation gave birth to a new economy, not to kill the old economy," he said when met at the DPR Building, Senayan, Jakarta, Tuesday, September 12.

In fact, continued Teten, China also separates online trading platforms from social media. For example TikTok, said Teten, social media platforms and trading platforms are separated.

We imitated the Chinese model. In China digital platforms should not be monopolized, social media regulates, social media, trade, trade, separated. TikTok itself in China is separated between its social media and its shops, but in Indonesia it is allowed who is stupid?, "he said.

According to Teten, by tightening regulations related to the digital economy in the country, Indonesia does not need to be afraid of losing the market or leaving investors from within the country. This is because Indonesia has 200 million people and is the third largest market in Asia.

Our digital market is the highest number 3 in Asia. So if we want to regulate our trade, they can't leave either. They will lose the market if they want to go," he said.