1. China: From Follower to Leader in the Digital Economy
On December 22, at the World Digital Economy Forum Forum , China officially released the “Joint Initiative for Building a Digital Community with a Shared Future”, which attracted worldwide attention. This initiative is China’s response to the complex international situation of the global digital economy. As a responsible country, China is now providing a “blueprint” for the development of the digital economy, reflecting its willingness to cooperate with countries around the world to build a healthy digital community and provide constructive solutions for the governance of the internet economy.
In recent years, China's digital economy has developed rapidly and has gradually become one of the dominant forces in the national economy.
According to the white paper on the global digital economy published by the China Academy of Information and Communications Technology, China's digital economy saw strong growth in 2020, reaching 39.2 ecuador telegram number database trillion yuan (6.2 trillion US dollars), accounting for 38.6 percent of GDP, up 2.4 percentage points from the previous year. The digital economy of China's service, manufacturing and agricultural industries accounted for 40.7 percent, 21.0 percent and 8.9 percent of the industry's added value, respectively. This also contributed greatly to the effective prevention and control of COVID-19 and the stabilization of economic and social development.
In addition, the optimization and upgrading of the digital economy structure continued. According to the main statistical classification of the digital industry of the National Bureau of Statistics of China, China's digital economy is mainly determined by two segments: first, the industrialization of digital products and services, and second, the digitalization of traditional industries. The scale of industrialization of digital products and services reached 7.5 trillion yuan (US$1.2 trillion), accounting for 19.1 percent of the digital economy, 7.3 percent of GDP, and a year-on-year nominal growth of 5.3 percentage points.
More importantly, the digital transformation of traditional industry is also accelerating. The white paper shows that the size of the economy created by the digitalization of traditional industry has reached 31.7 trillion yuan, accounting for 80.9 percent of the digital economy, 31.2 percent of GDP, and a year-on-year nominal growth of 10.3 percent, providing strong impetus to the sustainable and healthy development of the digital economy.
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