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China’s digital economy reaches 27.2 trillion yuan

Updated: Nov 9, 2018 Xinhua Print

HANGZHOU — China’s digital economy reached 27.2 trillion yuan (nearly $4 trillion) in 2017, accounting for 55 percent of the country’s total GDP growth, according to a report released at the ongoing fifth World internet Conference in East China’s Zhejiang province on Nov 8.

The report indicates that information technology is playing an increasingly bigger role in human life, prompting innovation and rapid development.

In 2017, the global digital economy reached $12.9 trillion, with China and the United States standing as the top contributors. Meanwhile, the world’s total e-commerce volume increased to $2.3 trillion, driven by emerging markets including Asia, Latin America, the Middle East and Africa.

The report also shows that China began to upgrade its internet infrastructure this year, leading to greater cyber safety and a more prosperous internet culture.

As of June, China was among the world’s top five countries with the most 4G users, while its 5G R&D team was in the world’s top tier. According to the report, China also has the world’s largest e-commerce market.

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