China’s first national special plan in the field of digital economy was issued. The 14th five year plan for digital economy development (hereinafter referred to as the plan) issued by the State Council recently makes it clear that by 2025, the added value of core industries of digital economy will account for 10% of GDP.
In 2020, this figure is 7.8%, which means that there is a huge space for the development of China’s digital economy. The agency estimates that the added value of core industries of digital economy will reach 13 trillion yuan in 2025.
The plan makes an overall plan for the development of digital economy during the 14th Five Year Plan period from eight aspects, including optimizing and upgrading digital infrastructure, giving full play to the role of data elements, vigorously promoting industrial digital transformation, accelerating digital industrialization, continuously improving the digital level of public services, improving the digital economy governance system, and focusing on strengthening the digital economy security system Effectively expand international cooperation in the digital economy.
Wu Qi, executive director of Wuxi Digital Economy Research Institute, said that with the accelerated integration of digital economy and real economy, digital economy has become a new engine and new driving force for China’s economic growth. At the same time, the structural problems of digital economy development have become increasingly prominent. The introduction of the plan is conducive to creating a good environment for the development of digital economy, coordinating development and supervision at a high level, and promoting the sustainable and healthy development of China’s digital economy.
the development space of digital economy is huge
As the main economic form after agricultural economy and industrial economy, digital economy is a new economic form that takes data resources as the key element, modern information network as the main carrier, integrated application of information and communication technology and digital transformation of all factors as an important driving force to promote a more unified fairness and efficiency.
According to the data of the National Bureau of statistics, from 2005 to 2020, the scale of China’s digital economy increased rapidly from 2.6 trillion yuan to 39.2 trillion yuan, with a year-on-year increase of 9.6% in 2020, ranking first in the world. Among them, in 2020, the added value of core industries of digital economy will account for 7.8% of GDP, providing a strong driving force for the sustainable and healthy development of economy and society.
The white paper on the development of China’s digital economy (2021) released by the Chinese Academy of information and communications also shows that in 2020, China’s digital economy accounted for 38.6% of GDP, and the growth rate of digital economy is more than three times that of GDP, which has become a key driving force for stabilizing economic growth under the epidemic.
Not only is the plan clear that by 2025, the added value of core industries of digital economy will account for 10% of GDP. At present, many places have set a new round of development goals of digital economy. For example, Guangdong proposes that the operating revenue of digital industrial clusters will exceed 10.7 trillion yuan by 2025. Hunan has made it clear that by 2025, the compound annual growth rate of digital economy will remain above 15.8%, and the proportion of digital economy in GDP will reach 45%. Sichuan strives to achieve a digital economy scale of more than 2 trillion yuan by 2022, accounting for 40% of GDP.
Industry analysis shows that the development of digital economy has a far-reaching impact on China’s economic structure, and many industries will usher in new opportunities in the tide of digital economy development. Under the favorable policies, the seven key industries of digital economy, including big data, cloud computing, Internet of things, industrial Internet, blockchain, artificial intelligence, virtual reality and augmented reality, will usher in new investment opportunities.
Statistics show that there are 285 A-shares involving these seven key industries. On January 12, Zhewen Interactive Group Co.Ltd(600986) , Hyunion Holding Co.Ltd(002537) , Shenzhen Asia Link Technology Development Co.Ltd(002316) limit, Great Chinasoft Technology Co.Ltd(002453) , Shenzhen Ysstech Info-Tech Co.Ltd(300377) , Unigroup Guoxin Microelectronics Co.Ltd(002049) , Macmic Science & Technology Co.Ltd(688711) , Cubic Digital Technology Co.Ltd(300344) , Uroica Precision Information Engineering Co.Ltd(300099) rose by more than 5%.
In terms of optimizing and upgrading digital infrastructure, the plan mentions the construction of an intelligent and comprehensive digital information infrastructure with high-speed ubiquitous, integration of heaven and earth, cloud network integration, intelligence and agility, green, low-carbon, safety and controllability. Orderly promote the expansion of backbone networks, jointly promote the construction of gigabit optical fiber networks and 5g network infrastructure, promote 5g commercial deployment and scale application, prospectively lay out 6G network technology reserves, and accelerate the layout of satellite communication networks.
At present, the new digital infrastructure represented by 5g and industrial Internet is accelerating in an all-round way. The executive meeting of the State Council held on September 22 last year considered and approved the “14th five year plan” new infrastructure construction plan, and the local version of the “14th five year plan” new infrastructure plan was also intensively introduced to accelerate the construction of a number of major projects such as big data center and industrial Internet.
promote industrial digital transformation
With the development of digital economy, key industries will usher in a new round of opportunities for transformation and upgrading.
According to the analysis of the white paper of the Institute of ICT, the internal structure of the digital economy presents a “28” proportional distribution. In 2020, the scale of China’s digital industrialization will reach 7.5 trillion yuan, accounting for 19.1% of the digital economy. The scale of industrial digitization will reach 31.7 trillion yuan, accounting for 80.9% of the digital economy. Industrial digitization has become a powerful engine for the development of digital economy.
At the same time, the penetration level of digital economy in the three industries has doubled step by step. In 2020, the penetration rate of digital economy in China’s agriculture, industry and service industries will be 8.9%, 21.0% and 40.7% respectively. Industrial digital transformation will provide broad space for the development of digital economy.
The plan also proposes to vigorously promote industrial digital transformation, including accelerating the digital transformation and upgrading of enterprises, comprehensively deepening the digital transformation of key industries in agriculture, industry and service industry, promoting the digital transformation of industrial parks and industrial clusters, cultivating transformation and supporting service ecology, etc.
Hu Qimu, chief researcher of Sinosteel Economic Research Institute, said that industrial manufacturing has inherent advantages in digital transformation. First, the digital infrastructure is relatively perfect; second, the talent team has been trained in the “integration of industrialization and industrialization” for many years; third, the evolution of industrialized production objectively requires further improvement of efficiency through digital transformation. Therefore, the digital transformation of industry has a good foundation, and the relevant systems and mechanisms are relatively perfect.
In contrast, agriculture and logistics will face the important task of digital transformation in the future. “The production mode and factor input structure of traditional agriculture determine that its digitization degree is not high. In order to improve the added value of agricultural production, the digital transformation and intelligent operation of agriculture are the necessary ways. In the process of building a new development pattern of double circulation, the intelligent logistics system helps to smooth the internal and external circulation, and can improve the factor allocation and circulation efficiency of the national economy It is also an important means to reduce carbon in transportation and logistics. “
build data element market system
To promote the development of digital economy, we need to give full play to the role of data elements.
“The new ideas about data elements in the plan are reflected in four levels.” Ding Botao, deputy director of the Information Research Institute of the Shanghai Academy of Social Sciences, said, “First, we mentioned that since we should expand the scale of data supply, we should also improve data quality. Second, we should emphasize the establishment and improvement of the national public data resource system, and on this basis, we should coordinate the opening-up, development and utilization. Third, we should raise the exploration of data factor market in Shanghai and other places to a national strategy, including data trading system, data capitalization, etc. fourth, we propose the establishment of diversified participation The development and utilization mechanism of data resources, the government and industry open and share data, and industry associations, scientific research institutes, enterprises and other parties participate to realize the deep integration of data, technology and scenarios.
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In fact, with the release of the opinions on building a more perfect system and mechanism for market-oriented allocation of factors in April 2020, data, as a new type of production factor, officially appeared in the official documents for the first time and became the category of improving market allocation of factors together with land, labor, capital and technology.
The reporter learned that in the eight years from 2014 to 2021, China added 14 big data trading centers. Taking the Shanghai data exchange established in 2021 as an example, the first batch of 20 data products were listed on the day of establishment.
Lu Yong, deputy general manager of Shanghai data exchange, explained that data, as a factor of production, has three types of values, including the “primary value” of data, the “circulation value” of data and the “secondary value” of data. The effective way to release the three values of the above data elements is to build a data element market system.
Lu Yong said that the exchange is an important starting point for the cultivation of factor market. Through the circulation and trading of the exchange, the value of data is capitalized, and the local data trading platforms provide a strong guarantee for promoting the circulation of data elements.
Previously, Yu Xiaohui, President and Deputy Secretary of the Party committee of the Chinese Academy of communications and communications, said that from 2018 to 2025, the amount of data owned by China increased from 7.5zb to 48.6zb, ranking first in the world. China has the conditions to build a healthy, green and sustainable data factor market; In the next stage, it is urgent to establish and improve the rule system as soon as possible, focus on solving the problems of data rights confirmation, data security, privacy protection, sharing and opening, audit supervision, straighten out the rights and responsibilities of all participants in the data ecology, and form a data circulation mode of benign interaction, co construction, sharing and co governance of multiple participants.
Digital economy supervision is also an aspect of concern to the outside world. The plan clearly regulates the development of digital economy and adheres to both development and supervision. Explore the establishment of governance methods suitable for the sustainable and healthy development of the digital economy, formulate more flexible and effective policies and measures, and innovate the collaborative governance model. Clarify the responsibilities of competent departments and regulators, strengthen cross departmental, cross level and cross regional collaborative supervision, clarify the scope of supervision and unified rules, and strengthen division of labor, cooperation and coordination.
Wu Qi said that the development of digital economy has derived a series of negative externalities such as data security, data gap and platform monopoly. With the increasing popularity of digital scenes and digital applications, the phenomenon of excessive collection of citizen information by enterprises is serious, and the problem of personal privacy protection is prominent. We should strengthen data legislation and digital platform governance, and accelerate the establishment and improvement of the digital economy market supervision system. Accelerate the confirmation of data elements, and improve the regulatory measures for the monopoly identification of platform enterprises, the management of hierarchical and classified collection and use of data, and the protection of consumers’ rights and interests.
Ding Botao also told reporters that there are many new ideas about the digital economy governance system in the plan, “First, for the problems in the development of digital economy in recent years, targeted measures have been put forward to strengthen tax supervision and tax inspection, strengthen the research and judgment of major problems and risk early warning; second, the digital economy supervision system will be more rigorous, including the whole chain and all fields of supervision objects, cross departmental and cross regional division of labor and cooperation among regulators, and supervision Cross scenario, cross business and cross department joint supervision in the mode. “
