Comments on the development plan of Digital Economy: digital economy provides new momentum and helps form a dual cycle development pattern

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Event:

The State Council recently issued the "14th five year plan" for the development of digital economy, which defined that by 2025, China's digital economy will move towards a period of comprehensive expansion, and the added value of core industries of digital economy will account for 10% of China's GDP.

The world has entered the era of digital economy

At present, the development momentum of traditional economy has slowed down, while the digital economy represented by new generation technologies such as Internet, big data, artificial intelligence and cloud computing has sprung up. In 2020, the total digital economy scale of 47 countries in the world reached US $32.6 trillion, accounting for 43.7% of GDP. Among them, China's digital economy scale was US $5.4 trillion, ranking second in the world, with a growth rate of 9.6%, ranking first in the world. Digital economy has become the main economic form after agricultural economy and industrial economy. It is the driving force of transformation and upgrading. It has become a new engine to promote global economic development.

It is imperative to develop digital economy with policy assistance

The 14th five year plan for the development of digital economy proposes that by 2025, the added value of core industries of digital economy will account for 10% of China's GDP and 7.8% in 2020. During the 13th Five Year Plan period, China built the world's largest optical fiber and fourth generation mobile communication (4G) network. The construction and application of the fifth generation mobile communication (5g) network accelerated, the number of IPv6 active users reached 460 million, and the application penetration rate of industrial Internet platform reached 14.7%. On the whole, the information infrastructure is the world's leading, Lay a solid foundation for the digital economy to step up to a new level during the 14th Five Year Plan period.

Digital economy contributes to the formation of double cycle development pattern

From January to November 2021, the online retail sales of physical goods reached 9.8 trillion yuan, a year-on-year increase of 12%, accounting for 24.5% of the total retail sales of social consumer goods. The new e-commerce model represented by social and live e-commerce innovated and developed to release potential domestic consumption. In 2020, cross-border e-commerce accounted for 20% of total imports and 54% of total exports. It is a powerful force for the development of China's foreign trade. The digital economy has effectively opened up the links of production, consumption, distribution and circulation, promoted the accurate matching of supply and demand, optimized the level of opening to the outside world, realized efficiency change, power change and quality change, and promoted the formation of a double cycle development pattern.

New infrastructure enables digital economy

Digital infrastructure is an important part of new infrastructure, which mainly refers to the new infrastructure for digital transformation of all walks of life based on information network and driven by the integration and innovation of information technology and everything. With the continuous development of the whole society towards informatization, digitization and intelligence, the enabling effect of digital infrastructure gradually appears, which helps the transformation of transportation, electric power, water conservancy, pipe network, municipal administration and other fields to digitization and intelligence, and injects new kinetic energy into economic development.

Risk tips

The epidemic situation exceeded expectations, information protection and other policies exceeded expectations, and China's 5g construction was less than expected.

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