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China's Chongqing to shore up digital economy

June 23, 2020


Abstract : Southwest China's Chongqing Municipality plans to shore up its digital economy by fostering innovative enterprises and industrial clusters by 2022.

CHONGQING, June 22 (Xinhua) -- Southwest China's Chongqing Municipality plans to shore up its digital economy by fostering innovative enterprises and industrial clusters by 2022.

Chongqing's digital economy is expected to reach 1 trillion yuan (about 141.32 billion U.S. dollars) by 2022, accounting for more than 40 percent of the city's gross domestic product (GDP) and contributing over 60 percent to the total GDP growth, according to the municipal government.

The plan highlights that Chongqing will cultivate hundreds of innovative enterprises and 5,000 micro, small and medium firms as well as innovative teams in the digital economy sector by 2022.

The city will focus on industries related to integrated circuits, intelligent terminals, software and information service, artificial intelligence and blockchain, and create big industrial clusters.

Chongqing also plans to invest 398.3 billion yuan between 2020 and 2022 in a series of new infrastructure projects to stimulate the integration of the digital economy with the real economy.

Chongqing's digital economy is booming and the added value of its digital economy surged 15.9 percent year on year in 2019.

Last October, China announced to build six national-level pilot zones for innovation and development of the digital economy. The pilot zones will be established in the Xiongan New Area in Hebei Province, Chongqing Municipality, as well as Zhejiang, Fujian, Guangdong and Sichuan provinces. Enditem

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Keyword: Chongqing digital economy

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