China plans to boost digital economy in 2021-2025
BI Desk || BusinessInsider
China's State Council on Wednesday rolled out a plan to facilitate the development of the digital economy in the 14th Five-Year Plan period (2021-2025).
The country aims to raise the proportion of the added value of core digital economy industries in its GDP to 10 percent in 2025, up from 7.8 percent in 2020, according to the plan.
By 2025, China will see the digital transformation of industries reach a new level, digital public services will become more inclusive, and the digital economy governance system will improve noticeably, per the plan, reports Xinhua.
It details key tasks in eight areas, including optimizing and upgrading digital infrastructure, pushing forward the digital shift of enterprises, and expanding international cooperation on the digital economy.
According to the document, China will strengthen its support of 6G research and development, enhance innovation in strategic fields such as integrated circuits and artificial intelligence, and facilitate the development of new business modes.
The country will also explore the establishment of regulations in the fields of cross-border data flows, market access, anti-monopoly work, the digital yuan and privacy protection in the digital era, drawing on international rules and experience, per the plan.