Innovative e-commerce stabilizes China’s foreign trade – OpenGov Asia

The digital economy is expected to play a greater role in strengthening China’s high-quality development, accelerating digital transformation and upgrading traditional industries. Innovative digital technologies such as big data, cloud computing and artificial intelligence are increasingly integrated into all other sectors of economic and social development. This trend is also giving new impetus to the global economic recovery.

By 2025, China will establish a market system for data items and see the digital transformation of industries reach a new level. Furthermore, digital public services will become more inclusive and a strong governance system for the digital economy will be put in place.

Facilitating the growth of the digital economy is of vital importance for cultivating new driving forces, stimulating high-quality and innovation-driven development, and effectively addressing imbalanced development in society. Technologies such as big data, cloud computing, artificial intelligence and the Internet of Things are rapidly evolving and finding a wide range of applications in industries and other economic sectors, accelerating their integration into the real economy.

Long Haibo, Senior Researcher, Development Research Center, State Council

China also needs more efforts to make breakthroughs in core and basic technologies, expand industrial application scenarios of advanced technologies, and strengthen data and personal information security protection. China’s digital economy was worth nearly $5.4 trillion in 2020, up 9.6% year-on-year, ranking second in the world.

In addition, the plan details key tasks in eight areas, including optimizing and upgrading digital infrastructure, promoting the digital transition of enterprises, and expanding international cooperation on the digital economy. It focuses on improving innovation of key technologies in strategic and future-oriented areas such as quantum information, network communications, integrated circuits, key software, big data, artificial intelligence (AI), blockchain and new materials, as well as the promotion of new forms and business models. .

Emerging digital technologies represented by 5G, big data and AI have played a vital role in improving operational efficiency, reducing costs and enhancing the core competitiveness of traditional industries in a downward economic pressure. China’s intensified efforts to develop the digital economy will give new impetus to the country’s economic growth and accelerate digital and smart upgrades in enterprises. The deep integration of digital technologies into the real economy will further enhance China’s advantages in global supply chains.

The digital economy has become a major driver of economic recovery amid the COVID-19 pandemic and network security provides a good foundation to boost the digital economy. Internet-centric companies should collaborate with traditional industries and leverage their advantages in technology, talent and capital to support their digital transformation.

As OpenGov Asia reported, China will continue to promote the development of a digital economy during the 14th Five-Year Plan period (2021-25), according to a circular issued by the General Office of the State Council. . By 2025, the digital economy is expected to be booming, with the value added of key industries in the digital economy accounting for 10% of GDP.

According to the plan, efforts will be made to accelerate the construction of the information network infrastructure and a nationally integrated large data center system coordinating computing power, algorithms, data and resources. ‘application. High quality data elements will be provided.

The plan also emphasized industrial digital transformation. To accelerate the digital transformation and upgrading of enterprises, qualified large enterprises will be encouraged to create integrated digital platforms. Efforts will also be made to deepen the overall digital transformation in key industries, including comprehensive and comprehensive digital transformation of traditional industries and a higher level of digitalization in the agricultural industry.

While data is an important factor in the digital economy, more efforts should be made to bridge the digital divide for the benefit of more user groups. To be precise, we need to improve the construction of infrastructures and the sharing of computing power from large companies to smaller ones.

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