ISLAMABAD:China’s digital economy jumped from 11 trillion yuan ($1.52 trillion) to 45 trillion yuan ($6.20 trillion) during the past decade, providing a powerful motivation for economic and social development.
The mobile payment is profoundly changing Chinese people’s life, with the annual trade volume hitting 527 trillion yuan.
The country has built an advanced and complete digital industry system. The core computing industry scale has exceeded 1.5 trillion yuan, with an average growth rate of over 30 per cent in the past five years, and the market size of cloud computing surpassed 300 billion yuan. Moreover, China has 1.05 billion internet users, forming the world’s largest and most dynamic digital society, China Daily reported.
With digital technologies such as machine vision and virtual simulation, some intelligent factories are springing up in the country.
Industry digitalization has developed rapidly in China during the past decade. The industrial internet applications covered 45 national economic categories and the industrial scale exceeded1 trillion yuan, connecting nearly 80 million industrial devices.
China has built the world’s largest information communication network during the past ten years, with more than 1.96 million 5G base stations having covered all cities at the prefecture level and above.