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Agricultural Development Bank of China
Industry

Market size of China's digital economy nears USD5.4 trln in 2020

August 03, 2021


Abstract : The market size of China's digital economy rose 9.6 percent on year to approach 5.4 trillion U.S. dollars in 2020, ranking second in the world, according to a report released at the 2021 Global Digital Economy Conference, quoted by Economic Information Daily on Tuesday.

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Photo taken on Aug. 2, 2021 shows the opening ceremony of the 2021 Global Digital Economy Conference in Beijing, capital of China. (Xinhua/Zhang Chenlin)

BEIJING, Aug. 3 (Xinhua) -- The market size of China's digital economy rose 9.6 percent on year to approach 5.4 trillion U.S. dollars in 2020, ranking second in the world, according to a report released at the 2021 Global Digital Economy Conference, quoted by Economic Information Daily on Tuesday. 

China Academy of Information and Communications Technology (CAICT) unveiled the report at the conference which kicked off in Beijing on Monday. 

At the conference, government officials expressed their strong support to promote development of digital economy in many aspects, such as developing core technologies, accelerating breakthroughs and innovations in high-end chips and key basic software, developing green intelligent data and computing facilities, and promoting the digital transformation of manufacturing industry. 

Xiao Yaqing, minister of industry and information technology, said that efforts would be made to promote the digital transformation of manufacturing industry and fully implement the 5G+ industrial Internet so that digital technology can help empower the development of enterprises. 

It is also important to create a sound environment for the development of digital economy, ensure cybersecurity and data security, and deepen international exchanges and cooperation. The country will also create an open, fair, just and non-discriminatory environment for the development of the digital economy, said Xiao.

It is noted that globally, digital economy has effectively reduced the impact of the pandemic. The CAICT report showed that in 2020, a total of 47 countries saw the scale of digital economy added value reach 32.6 trillion U.S. dollars, a nominal increase of 3 percent year on year, accounting for 43.7 percent of GDP. (Edited by Hu Pingchao, Wang Siyi, hupingchao@xinhua.org)

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Keyword: digital economy

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