BEIJING, May 8 (Xinhua) -- Several regions in China have recently arranged special funds to support the digital economy, with 5G industry, artificial intelligence, platform economy and big data as the key areas, said a recent report of Economic Information Daily.
Since the second quarter of 2020, several regions, such as Fujian, Hebei, Guizhou and Qinghai, have issued development plans and special financial measures to support the development of the digital economy, including providing financial support of more than 1 million yuan to relevant enterprises and projects and using industrial investment funds.
Fujian Province recently issued a circular of special fund support for the development of digital economy in 2020, covering 5G, artificial intelligence, satellite application, platform economy, Internet of Things and digital Silk Road, and arranged fund subsidies of 500,000 to 5 million yuan.
Guizhou further standardized the management and use of the provincial special fund for big data development, and proposed to support the high-quality development of the big data industry, strengthen the digital economy and promote industrialization of digital business and digitization of industry.
Meanwhile, Hebei will give full play to the role of provincial government investment funds such as industrial investment fund and provincial strategic emerging industry venture capital fund to support the development of digital economy.
In fact, the development of digital economy has accelerated in China during the COVID-19 epidemic. Data from the Ministry of Industry and Information Technology showed that in the first quarter, the added value of the information transmission, software and information technology service industries increased by 13.2 percent on year; mobile Internet traffic grew by 39.3 percent and online retail sales of consumer goods rose 5.9 percent.
Pan Helin, executive director of the Institute of Digital Economy at Zhongnan University of Economics and Law, said that in the short term, the digital economy will not only play a more important role in epidemic prevention and control, but will also rapidly upgrade industries such as education, medical care, logistics, culture and tourism.
In the long run, financial support for relevant enterprises and projects will send a clear signal, which will direct more capital and human resources to be invested in relevant industries and realize continuous innovation, said Pan.
(Edited by Yang Qi with Xinhua Silk Road, kateqiyang@xinhua.org)
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