China’s digital economy hits $6.3tr

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The value of China’s digital economy reached 45.5 trillion yuan (about US$6.3 trillion) in 2021, accounting for 39.8 percent of the country’s GDP, according to a report released by the Chinese Academy of Cyberspace Studies.

The digital economy has become an important cornerstone of China’s stable economic development, said the China Internet Development Report 2022, which was released during the 2022 World Internet Conference (WIC) Wuzhen Summit, held in the water-town of Wuzhen, in east China’s Zhejiang Province.

In addition to the above report, the summit also released another report titled “World Internet Development Report 2022 that says the added value of the digital economy in 47 countries around the world reached US$ 38.1 trillion in 2021, with an increase of 15.6 percent year-on-year, China Daily reported. The digital economy has become an important engine driving global economic recovery, said the report.

Themed “Towards a Shared Digital Future in a Connected World – Building a Community with a Shared Future in Cyberspace,” this year’s summit was attended by more than 2,100 guests from over 120 countries and regions, both in person and online.—APP

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