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andy mock joins us now he's a senior research fellow at the center for china and globalization andy give us the background on this what's the aim behind these new payment regulations well i think we can look at the goal here from two levels as we just heard this is about addressing uh some financial issues so whether we can think of this as money laundering uh inaccurate uh statistics for various purposes but more profoundly i think we also need to understand this as part of this rethinking of economic structure so not too long ago the state council released a so-called opinion that actually has quite broad ramifications and that's considering data as a factor of production so in economic theory we think of land labor and capital as the inputs and sometimes technology as the inputs into economic production but china has said data is a separate factor of production and we're seeing that ensuring data quality data accuracy through better collection methods

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