China spurs the digital economy as a new driver of growth

Beijing, August 4th (Xinhua)-Wear a helmet and sit in front of some big screens to experience the exciting moments of a spacecraft launch. This is one of the highlights of the 2021 Global Digital Economy Conference, which ended in Beijing on Tuesday.

The two-day event on Monday will showcase cutting-edge technology featuring data-driven innovation, with attendees a new impetus for China’s economic growth despite the COVID-19 pandemic. Focused on the discussion of the digital economy as.

According to a white paper released by the China Academy of Information and Communication Technology (CAICT), China’s digital economy maintained a high growth rate of 9.7% in 2020 amid a pandemic and a global recession.

The country’s digital economy reached 39.2 trillion yuan (about US $ 6.1 trillion) last year, accounting for 38.6 percent of GDP.

Guido Jaconi, Vice Chairman of the European Union Chamber of Commerce, said: In China.

Zhuang Rongwen, director of China’s Cyberspace Administration, said at the outset that the digital economy was key to achieving economic recovery and promoting sustainable development with the still fragile global economy.

Cai Fang, an expert at the Chinese Academy of Social Sciences, said the digital economy is a powerful boost to many new business models such as online shopping, education, telemedicine, and artificial intelligence, giving it a strong resilience in the face of a pandemic. is showing. Social science.

China is building the world’s largest fiber optics and 4G and 5G mobile broadband networks, with more than 365 million 5G terminal connections and more and more 5G application scenarios, according to the Minister of Industry and Information Technology. Xiao Yaqing says.

China ranks second in the world for its digital economy, and emphasizes the development of the digital economy in its 14th Five-Year Plan (2021-2025) for building Digital China.

Lei Jun, chairman of Chinese smartphone maker Xiaomi Corporation, said Chinese companies will also be encouraged to open up opportunities in overseas digital markets over the next decade.

According to guidelines jointly released by the Chinese government sector on July 23, domestic digital economy companies are accelerating the development of overseas R & D centers and product design centers, and with overseas technology companies in the following areas: Further efforts will be made to enable stronger cooperation. Big data, 5G, artificial intelligence.

Beijing, the capital, also introduced an action plan on Monday to accelerate the process of building itself into a global pioneer in digital economic development.

As stated in the plan, the added value of Beijing’s digital economy is expected to account for about 50% of GDP by 2025.

Last year, the added value of the city’s digital economy exceeded 1.44 trillion yuan, accounting for about 40% of the total economy.

The World Trade Organization predicts that digital technology will drive annual growth in global trade volume by about 2 percentage points by 2030, and that the share of global trade in services will increase from 21 percent in 2016 to 25 percent by then. I am.

“In the face of challenges such as slowing economic growth and aging society, the digital economy will enable comprehensive, high-quality development that will enable more older people to overcome the digital divide.” Said Kai.

China spurs the digital economy as a new driver of growth

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