Digital economy worth US$5 trillion

BEIJING: China’s digital economy was worth nearly US$5.4 trillion (RM22.8 trillion) last year, ranking second in the world. That represented a year-on-year growth of 9.6%, the fastest in the world, Economic Information Daily reported.

The result was announced at the 2021 Global Digital Economy Conference, which is under way in Beijing, and co-hosted by the Beijing municipal government, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Commerce, and the Cyberspace Administration of China.

According to the global digital economy white paper released by the China Academy of Information and Communications Technology at the conference, last year, the value added for the digital economy reached US$32.6 trillion (RM137.6 trillion) in 47 nations, with a nominal growth rate of 3% on a yearly basis.

At the conference, more policy signals were released to speed up the development of the digital economy, including R&D breakthroughs and iterative applications in high-end chips and key basic software, green smart data and computing facility layouts, and promoting digital transformation in the manufacturing sector.

In the wake of the fragile global economic recovery, the digital economy is key to realising economic recovery and promoting sustainable development, said Zhuang Rongwen, director of the Cyberspace Administration of China.

Developing the digital economy has enormous significance, said Xiao Yaqing, minister of Industry and Information Technology.

Next, the country will strengthen efforts to tackle key problems in core technologies, strengthen areas of weakness and build an independent, controllable, safe and reliable information technology system.

The government will put more efforts into advancing digital transformation in the manufacturing sector, and also promote implementation of the “5G plus industrial internet” innovation development project and smart manufacturing project, Xiao said.

Digital technologies should better empower small, medium and large enterprises to fully support industrial upgrading, Xiao said, adding that an open, fair and non-discriminatory development environment should be built up for the digital economy.

According to a document from the government of the Beijing municipality, Beijing aims to become a leader in city digital smart transformation and global digital technology innovation. — China Daily/ANN

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Aseanplus News

Asean News Headlines at 10 pm on Tuesday (Sept 28)
Singapore crosses the 2,000 mark of Covid-19 cases for the first time as five seniors die from virus complications
Indonesian parliament approves govt's 2022 budget as Covid-19 number are much lower - 2,057 new cases reported
It's getting better for Thailand as daily coronavirus cases sink to lowest numbers since July
Philippines: 13,846 new Covid-19 cases as total surges to 2,522,965; Duterte approves the vaccination for all including children
Vietnam's daily new Covid-19 cases drop below 5,000, lowest numbers since July 20
Fewer marriages, births in Singapore last year due to pandemic; nuptial figures fall to lowest since 1986
Six killed in severe floods triggered by heavy rainfall in Thailand
Singapore to host centralised Suzuki Cup, South-East Asia's premier football tournament
Philippines and China to deepen cooperation on fighting transnational crime

Stories You'll Enjoy