China is ambitious in all aspects of digitalisation

China is looking to boost the share of technology in its economy

China has been exploring digitalization in every way – from space to Artificial Intelligence to the Metaverse. Countless digital initiatives have boosted their economy, now the Asian nation aims to achieve even more in the future.

Accordingly, the State Council announced a plan to further promote the development of the digital economy in the 14th Five-Year Plan (2021-25). According to the plan, China aims to enhance the digital economy. The value-added share of core digital economic sectors will account for 10% of GDP by 2025, from 7.8% in 2020.

The plan states that by 2025, the digital transformation of the industries of this billion-people nation will reach a new level, digital public services will become more inclusive, and the system The governance system of the digital economy will be significantly improved.

The digital economy is a strategic choice to seize new opportunities in the new round of science – technology revolution and industrial transformation.

The plan also pledges to further expand China’s service sector, explore measures to expand market access for new business models in the digital economy, and promote development. globalization for emerging services such as data storage and cloud computing.

This was reiterated by President Xi Jinping. The Chinese leader and General Secretary of the Central Committee of the Communist Party of China called on the country to grasp the trends and laws of digital economic development, and promote the healthy development of the digital economy. digital economy.

Xi also emphasized that developing the digital economy is a strategic choice to seize new opportunities in the new round of science and technology revolution and industrial transformation, as it has can help promote a new development model, a modern economic system and a new national competitive strength.

He also called for efforts to strengthen and expand China’s digital economy through promoting the deep integration of digital technologies with the real economy, and using these technologies to transform traditional industries and create new ones and businesses.

China prioritizes the development of digital infrastructure, a pillar to achieve prosperity in the digital economy

The plan is of great significance for the growth of the nation’s digital economy and will require innovative initiatives, said Ouyang Rihui, a professor of digital economy at the China Internet Economic Research Institute. More detailed policy advice from local authorities. He noted that the plan has prioritized the development of digital infrastructure, a pillar for achieving digital economic prosperity that will help spur investment and drive economic growth. Generally speaking.

Long Haibo, a senior researcher at the Development Research Center of the Chinese Cabinet, said that advanced digital technologies such as Artificial Intelligence, 5G, Big Data, and Internet of Things (IoT) are growing rapidly. creating momentum and accelerating digitalisation in a range of traditional industries such as manufacturing and agriculture.

“Promoting the development of the digital economy is extremely important in creating new impetus, effectively bridging the digital gap between different regions and groups across the country as well as promote high-quality and innovation-driven development,” said Long Haibo, Senior Researcher.

The country attaches great importance to developing the digital economy, he added. They have also made significant progress in improving digital infrastructure, ramping up efforts to promote new industries and new business models, and promoting the digitization of industries in recent years. recent years.

Noting that the development of the country’s digital economy is being fast-tracked, Mr. Long said more efforts are needed to achieve breakthroughs in key and core technologies, expanding apply advanced technologies in industry, and promote the sustainable and healthy development of the digital economy.

The country is one of the biggest users of QR Codes with more than 90% of daily transactions done via smartphones and self-parking driverless vehicles are starting to gain popularity among Chinese. The country’s pursuit of sustainability based on the global Net-Zero target by 2025 has been made possible with the help of digital vouchers. China’s recent pivot to digitalizing the Western front shows that the country values ​​comprehensive and inclusive innovation to achieve its digital goals, such as The report was published in OpenGov Asia Magazine.