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Industry

China's ministry to further promote integration of digital economy and real economy, report

December 18, 2020


Abstract : China's Ministry of Industry and Information Technology (MIIT) has given priority to the digital transformation of manufacturing industry, while promoting the deep integration of digital economy and the real economy and will take a slew of measures to promote such integration, the Xinhua-run Economic Information Daily reported on Friday.

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Visitors try a 5G-powered haptic device, by which users can feel remote objects in real-time, at the Light of the Internet Expo Center in Wuzhen, east China's Zhejiang Province, Oct. 19, 2019. (Xinhua/Yin Dongxun)

BEIJING, Dec. 18 (Xinhua) -- China's Ministry of Industry and Information Technology (MIIT) has given priority to the digital transformation of manufacturing industry, while promoting the deep integration of digital economy and the real economy and will take a slew of measures to promote such integration, the Xinhua-run Economic Information Daily reported on Friday. 

At present, China has made progress in the integration of the digital economy and the real economy. More than 700,000 5G base stations have been built across the country and the number of terminal devices connected to the 5G network has grown rapidly, showing the increasingly strong foundation for such integration. 

Data show that in the first ten months of the year, the country's software industry earned business revenue of 6.5 trillion yuan, a year-on-year increase of 11.7 percent. 

The ministry has always paid high attention to the digital transformation of the manufacturing industry and will take measures to further accelerate integration of the new generation of information technology and the manufacturing for innovation-driven development, said Yang Yuyan, a MIIT official, at a seminar held jointly by the Institute of New Structural Economics at Peking University (INSE) and a research institute of MIIT on Thursday. 

According to Yang, the ministry will accelerate the construction of 5G networks and its commercial application, deepen the application of digital technology in agriculture, service industry and various fields of society, and improve data governance standards and legal system construction such as data right confirmation, transaction, and security. 

China has the advantages of sufficient talent reserves, complete industrial supply chain, broad market space and application scenarios, for the development of digital economy, said Lin Yifu, dean of INSE.

Lin added that with the new generation of information technologies such as 5G, artificial intelligence, and the Internet of Things (IoT) empowering the real economy, new production and manufacturing methods are created, improving the resource allocation and production and life services. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)

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Keyword: 5G digital economy

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