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Haikou Jiangdong New Area
Economy

China's new economic drivers maintain growth in Q1

April 24, 2020


Abstract : China's new economic drivers such as the internet, 5G, artificial intelligence, and Internet of Things have maintained growth in the first quarter of this year, Huang Libin, spokesperson of the Ministry of Industry and Information Technology (MIIT) told a press briefing on Thursday.

BEIJING, April 24 (Xinhua) -- China's new economic drivers such as the internet, 5G, artificial intelligence, and Internet of Things have maintained growth in the first quarter of this year, Huang Libin, spokesperson of the Ministry of Industry and Information Technology (MIIT) told a press briefing on Thursday.

In the first three months, the added value of information transmission, software and information technology services increased 13.2 percent year on year, noted Huang, who is also the director of operation monitoring and coordination bureau under MIIT.

During the period, the mobile internet traffic surged 39.3 percent compared with the same period of last year, and the online retail sales of physical goods in China rose 5.9 percent.

In terms of industrial development, the output of integrated circuit, ticket vending machine and electronic components increased 16 percent, 35.3 percent and 16.2 percent respectively from January to March.

Internet-backed applications have played an important role in meeting people's life and production demands amid the COVID-19 epidemic, said Wen Ku, director of the information and communication development division under MIIT.

As 5G plays a significant role in stabilizing investment, promoting consumption and facilitating the upgrading of industries, MIIT would continue to accelerate the construction of 5G network to fuel the coordinated development of upstream and downstream industries, thus injecting new vitality into economic growth, according to Wen. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: 5G Internet information technology

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