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Economy

Digital economy on rise to reshape economic landscape in China

September 04, 2018


Abstract : The digital economy has become a key driver for China's economic growth with implementation of a series of supportive policies.

数字经济

BEIJING, Sept. 4 (Xinhua) -- The digital economy has become a key driver for China's economic growth with implementation of a series of supportive policies.

According to 2018 China Top 500 Enterprises Summit, the scale of China's digital economy reached 27.2 trillion yuan in 2017, accounting for more than 32.9 percent of gross domestic product (GDP) of the country. In 2017, digital economy created a total of 171 million jobs.

The booming digital economy is reshaping China's economic landscape as technologies such as big data and AI revive traditional industries and cast light on high-quality development. Digital economy has become an area where China's economic transformation and industrial upgrading can achieve major breakthrough, said Miao Wei, minister of Industry and Information Technology at the Summit.

Miao proposed to advance digital infrastructure construction and deeper integration between the internet and manufacturing as as to push forward manufacturing development towards digitization, networking and intelligence.

Zhang Feng, chief engineer of the Ministry of Industry and Information Technology (MIIT) disclosed that the government will focus on the integration of informatization and industrialization, and target smart manufacturing to promote the upgrade of the Internet and innovation breakthroughs in the information field.

Meanwhile, local governments have also geared up for digital economy, with Guangdong, Jiangsu, Henan and Anhui among others, carrying out provincial-level plans to make their economy more digitalized.

Aiming to form high-speed and reliable network infrastructure, strengthen independent innovation ability, and realize comprehensive development of digital economy, Jiangsu Province will target major technological breakthrough in integrated circuits, industrial software, industrial Internet, artificial intelligence, and the Internet of Things. Meanwhile, the province will set up industrial internet fund to boost a batch of model factories and "Internet + advanced manufacturing bases". By 2020, the number of new enterprises enjoying the cloud services is expected to exceed 100,000.

South China's Guangdong province put up to accelerate the development of the digital economy by focusing on information-driven development, core technology innovation, "digital government" construction, network security and etc.

In Henan, the province issued guidelines to strengthen the cyber security and network construction.

Anhui Province will exert its strengths in facilities construction, platform establishment, government services, industrial development, and talent support to enhance the development of digital economy. (Edited by Wu Shuang, wushuang2018@xinhua.org;Hu Pingchao, hupingchao@xinhua.org)

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Keyword: China digital-economy

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