Beijing, 1 March 2023 (TDI): China strives to advance its digital development to pave the way for long-term economic growth, promote digital transformation, and enhance global competitiveness, according to industry experts.
The Communist Party of China Central Committee and the State Council jointly released a guideline, which highlighted the importance of building a digital China for the country’s modernization in the digital era.
By 2025, the country plans to achieve effective interconnectivity in digital infrastructure to improve the digital economy and make breakthroughs in digital technology innovation significantly.
By 2035, China will be a global leader in digital development with progress in key areas such as economy, culture, politics, society, and ecology.
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Keeping the guidelines in view, experts will promote the advancement of the digital economy and create fresh business prospects for companies involved in areas such as telecommunications, computing, digital governance, and IT applications.
Digital Transformation of China
Emerging digital technologies such as 5G, big data, and AI have played a critical role in enhancing operational efficiency, cutting costs, and speeding up digital and intelligent upgrades in enterprises amid economic downward pressure.
Considering that, China built 887,000 new 5G base stations last year, and the total number of 5G stations reached 2.31 million, accounting for more than 60 percent of the world’s total, data from the Ministry of Industry & Information Technology showed.
Additionally, the scale of China’s digital economy reached 45.5 trillion yuan ($6.6 trillion) in 2021, ranking second in the world.
It accounts for 39.8 percent of the country’s GDP, according to a white paper released by the China Academy of Information and Communications Technology.
Yin Limei, Director of the Digital Economy Research Office, said, “more efforts should be made to strengthen the enterprises’ prominent role in technological innovation, make breakthroughs in the integrated circuits sector, and cultivate a batch of high-tech enterprises with global competitiveness.”
Therefore, the plan sets a clear direction for China’s digital development in the future and will drive local authorities to actively participate in the construction of a digital China under the guidance of new incentives.