Digital economy empowers China’s high-quality development

This photo taken on May 26, 2023 shows new energy and intelligent connected vehicles displayed at the exhibition center of Zhongguancun National Independent Innovation Demonstration Zone in Beijing, capital of China. (Xinhua/Ren Chao) BEIJING, May 31 (Xinhua) — Digitalization, a trend for global economic development, has become an indispensable part of China’s high-quality development. Artificial intelligence, quantum computing, blockchain technology, brain-computer interface, and digital transformation of enterprises – digital technology and digitalization are gaining traction in global economic development. In recent years, the sector has seen robust growth. The scale of China’s digital economy grew to 50.2 trillion yuan (about 7.09 trillion U.S. dollars) in 2022, with year-on-year nominal growth of 10.3 percent and ranking second globally, according to a report on the development of China’s digital industry. The share of the digital economy in the country’s GDP rose to 41.5 percent, the report said. "China’s digital progress has been spectacular," Thomas C. Tuttle, former president of the World Academy of Productivity Science, said via video link at the just-concluded Zhongguancun Forum, adding that China has done a better job of creating digital platforms that provide rich sources of market data from customers that can be analyzed to drive […]

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