China has been striving to strengthen, optimize and expand the digital economy

In a mine 500 meters deep belonging to Jinneng Holding Coal Industry Group in Datong, Shanxi province, the drill head of a shearer was spinning very fast, and coal blocks fell onto a conveyor belt, and then precisely went into containers after being washed and sieved. Such a downhole operation was performed remotely by operators on a computer.

The traditional mining industry, by employing 5G, industrial internet and artificial intelligence technologies, has greatly improved its quality and efficiency, and further enhanced production safety. The digitization of the mining industry shows the perfect integration of the digital economy and the real economy and their continuous solid development.

Over the past decade, the foundations for the integration of the digital economy and the real economy have been continuously consolidated. The country has more than 79 million industrial equipment connected to key platforms, benefiting more than 1.6 million industrial enterprises. The country’s smart manufacturing equipment sector is worth nearly 3 trillion yuan ($430 billion) and meets more than 50 percent of market demand.

The digital economy affects the overall development of the country. Over the past few years, China has been striving to strengthen, optimize and expand the digital economy. According to an official from the Ministry of Industry and Information Technology (MIIT), China’s digital economy has ranked second in the world for several consecutive years, constituting a key driving force for the country’s economic and social development. .

China has significantly strengthened its ability to build new digital infrastructure. The country has the largest mobile broadband and fiber optic networks in the world, and its fixed broadband internet has increased from 100 megabits per second to 1,000 megabits per second.

China, which in the past was just following the development of 4G communication technologies, is now leading the pack in 5G. 2.22 million 5G base stations have been built in the country, and all administrative villages have access to high-speed Internet, which contributes to the development of new applications, new forms of activities and new models in the Internet sector.

China is working for the deep integration of the digital economy and the real economy. Until September 2022, the penetration rate of digital research and development and design tools in the country has reached 76%, and the proportion of digitally controlled key stages has reached 57.2% in enterprises. New scenarios and sectors, and new forms of smart manufacturing activities have continued to emerge, which have greatly boosted economic development.

The major digital industries have continued to grow. New technologies, business forms and platforms are on the rise, such as big data, cloud computing, blockchain and artificial intelligence. In addition, the “contactless economy” represented by online shopping, online education and telemedicine has developed at an accelerated pace, injecting strong momentum into overall economic development.

According to statistics, the electronic information manufacturing industry and software companies generated revenue of 12.45 trillion yuan and 8.42 trillion yuan, respectively, through October 2022.

Overall, China’s manufacturing sector is still hampered by overcapacity of low-end products and insufficient supply of high-end products. It is in dire need of structural upgrade. The acceleration of the digital economy has provided an essential means to qualitatively improve the supply system of the manufacturing sector. Thanks to new technologies and new business models, the digital economy can always promote the innovation of application scenarios and business models, and will promote high-quality development of the manufacturing sector.

At a Lenovo smart factory in Shenzhen, Guangdong Province, which boasts a 60% automation rate, a laptop rolls off the production line every 14 seconds. The production line uses 268 robotic arms and automated guided vehicles, and can produce 1.2 million laptops per year.

Ramaxel, a supplier of memory devices upstream of the industrial chain and located 20 kilometers from the Lenovo factory, is also accelerating its digital transformation. The company’s on-time delivery rate and production efficiency all increased by 30%, thanks to the support provided by Lenovo. Ramaxel saw its revenue in 2021 increase by 140% compared to the previous year and maintained rapid growth in the first three quarters of 2022.

The rapid and continuous development of China’s digital economy in recent years has promoted the emergence of internationally competitive digital industries and clusters, such as intelligent voice recognition enterprises in Hefei in the Anhui Province, the digital security industry in Hangzhou in Zhejiang Province, and the Internet of Things companies in Wuxi in Jiangsu Province.

“Accelerating the development of the digital economy, promoting the deep integration of the digital economy and the real economy, and expanding digital industry clusters are of great importance,” said a MIIT official. The country will build digital industry clusters in different sectors with international competitiveness in stages.

Han Xin, People’s Daily reporter

Content provided by People’s Daily

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China has been striving to strengthen, optimize and expand the digital economy


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