CHINA DIGITAL ECONOMY DEVELOPMENT PLAN
China sets out goals and priorities for its digital economy.
On January 2022, China issued its “14th Five-Year Plan for the Development of the Digital Economy.” China views the digital economy as critical for its overall development objectives and intends for its “core industries” to grow from 7.8% of total GDP in 2020 to 10% by 2025.
Key objectives of the Plan include improving and upgrading digital infrastructure (e.g., 5G network buildouts); fully utilizing data as a core “factor of production”; implementing digital transformation across all industries; enhancing innovation capabilities in key sectors such as sensors, quantum computing, AI, and blockchain; and improving the digital economy governance system.
The Plan also emphasizes the importance of enhancing cybersecurity and data security, in line with China’s data regulatory efforts since 2021. On the international front, China plans to actively engage with the EU, ASEAN, African countries, and “Belt and Road” countries on digital economy policy.
China continues to call for adopting “secure and controllable” local technologies. Given the vast scope and size of its digital economy, business opportunities still exist for U.S. technology solution providers in areas such as industrial digital transformation, services, solutions for sustainable development, consumer products, and more.
To find out more, please contact CS Beijing’s Commercial Specialist Ms. Fan Li at firstname.lastname@example.org.