Digital economy helps empower China's high-quality development

NANCHANG -- A digital system connecting 1 million electronic research and development (R&D) engineers, 100,000 upstream and downstream factories, and customers from more than 210 countries displays instant information at Jiangxi Jiepei Industrial Internet Co., Ltd. in Shangrao City, east China's Jiangxi Province.

General Manager Huang Cheng said that through this self-developed digital system, the company can track and analyze detailed order progress in real time to ensure that each order is completed on schedule.

This is a microcosm of China's high-quality economic development driven by the digital economy.

More than 300 digital economy insiders, including professionals, scholars and business leaders, shared the latest achievements in China's digital economy and discussed its future development at the 2022 China Digital Economy Industry Conference held in Shangrao from Aug. 20 to 21.

Xu Yanhao, deputy Party secretary of the China Association for Science and Technology, said that developing the digital economy has become key to achieving economic recovery and promoting sustainable development.

China has issued a series of policies and measures to promote the development of the digital economy, Xu added.

Data shows that the scale of China's digital economy soared from 11 trillion yuan (1.6 trillion U.S. dollars) in 2012 to 45.5 trillion yuan in 2021, accounting for 39.8 percent of the country's GDP in 2021.

"As one of the world's most active countries in digital development, China has accelerated the digital transformation of its traditional industries, and accelerated innovation in multiple application scenarios such as social governance, public services, production and livelihoods," said Lyu Weiping, deputy general manager of the China Electronics Technology Group Corporation.

A newly released white paper on the global digital economy notes that the scale of China's digital economy has ranked second globally for many years.

Wang Ning, president of the China Electronics Chamber of Commerce, said that all parties should carry out collaborative research on core technologies, make full use of the advantages of massive data and rich application scenarios, promote the in-depth integration of digital technologies and the real economy, advance the digital transformation in all sectors, and jointly create an innovative ecosystem for the digital economy.

"China should actively participate in international cooperation in the digital field, establish standards, rules and governance schemes for digital technologies, products and services, and make the digital economy more open and inclusive," Xu said.