Old Version
Media Focus

New Era for Digital Economy

Caijing July 1, 2020

By NewsChina Updated Sept.1

Although Covid-19 severely undercut traditional industries in China in early 2020, it also created new business forms for the digital economy. Since early this year, the State Council and other government agencies have published documents to support the “Internet Plus” strategy. According to the White Paper on the Development of China’s Digital Economy which was released by the China Academy of Information and Communications Technology in July 2020, the added value of China’s digital economy amounted to 35.8 trillion yuan (US$5.1t) in 2019, accounting for 36.2 percent of China’s GDP growth. The digital economy, with digital knowledge and information as the key production factor, has altered living patterns which will accelerate economic transition and reconstruct governance models in the era of 5G.