Beijing, China – In the race to build a thriving and developed economy, China, with its massive population, has chosen a path less burdened by environmental and resource pressures faced by Western countries. By prioritizing the development of digital technology, China has harnessed its abundant human resources and unlocked unprecedented opportunities for rapid economic growth. With a steadfast focus on digital infrastructure and innovation, China is poised to establish itself as a global leader in the digital realm.
Unlike traditional industries, the development of digital technology necessitates a greater investment of human intellect rather than natural resources. Asian countries, including China, possess a unique advantage in this regard, boasting vast pools of talented individuals and a culture of hard work. Year after year, Chinese universities churn out the largest number of engineering graduates globally, underscoring the nation’s greatest resource—the human mind. The effective utilization of all available resources, combined with mastery of cutting-edge digital technology, has positioned China’s economy for unprecedented growth, making it one of the world’s fastest-growing nations.
Over the past decade, China has made tremendous strides in constructing a digital nation, rapidly advancing its digital infrastructure. Projections suggest that by 2025, the digital economy will account for over 50% of China’s total economic output, underscoring the paramount importance of digitalization.
China’s mobile communication technology has evolved from “3G breakthrough” to “5G leadership,” establishing a nationwide optical network that ensures broadband coverage in all administrative villages. Between 2012 and 2021, the scale of China’s digital economy grew more than fourfold, constituting 39.8% of its GDP, mentions WAM news agency. Remarkably, the revenue generated by the electronic information manufacturing industry and the software business increased by 1.7 times and 3.8 times, respectively, during the same period.
The significance of digital technology lies in its capacity to optimize resource allocation, minimize manpower requirements, and eliminate unnecessary transportation. In China, a popular saying encapsulates this sentiment: “More data flow, less personnel flow.” This adage underscores the transformative power of data, which circumvents redundant human movement and inefficient material transportation. Consequently, the adoption of digital technology has substantially improved the efficiency of government services in China.
“Data sharing” and “online processing” have revolutionized social operations, dramatically enhancing overall efficiency. With approximately 1.032 billion netizens and a 73% internet penetration rate, China has achieved remarkable milestones in digital accessibility. Notably, primary and secondary schools nationwide boast a 100% internet access rate, while China has developed the world’s largest online education system and a unified national medical insurance information platform. Telemedicine services are available in over 90% of the country’s counties and districts. The integration of the “Internet+” model permeates numerous sectors, including education, elderly care, poverty alleviation, as well as emerging industries like the sharing economy, smart travel, and mobile payment systems.
The recently released “Research Report on China’s Digital Economy Development (2023)” by the China Academy of Information and Communications Technology predicts that China’s digital economy will surpass 50 trillion yuan in 2022, outpacing GDP growth for the eleventh consecutive year. The report further highlights that China’s digital economy will account for 39.8% of the national GDP in 2021. Industrial Internet applications have been implemented across 45 major categories of the national economy, with e-commerce and mobile payment transactions ranking first globally. As we look toward the future, digital technology will undoubtedly occupy a pivotal position in shaping economies. The nation that leads in digital technology will hold the key to global economic leadership.
China’s unwavering commitment to digital innovation and its exponential growth in the digital economy have positioned the nation as a frontrunner in the global arena. By harnessing its immense human capital and prioritizing digital infrastructure, China has laid the groundwork for sustained economic dominance. As China continues to spearhead the digital revolution, the world watches with awe and anticipation, acknowledging the transformative power of technology in shaping the future of nations and economies.
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