China’s Digital Economy to Reach 50.2 Trillion Yuan, Ranks 2nd Globally

China’s Digital Economy to Reach 50.2 Trillion Yuan, Ranks 2nd Globally

The Western Connect Magazine - China's Digital Economy to Reach 50.2 Trillion Yuan, Ranks 2nd Globally
China’s digital economy is set to grow significantly with a nominal annual growth rate of 10.3%, accounting for 41.5% of GDP, per the Digital China Development Report (2022).

The latest report from Mainland China shows that the digital economy’s scale is expected to reach 50.2 trillion yuan in 2022, securing the second spot in the world. At the Digital China Construction Summit’s opening ceremony held on the 27th in Fuzhou, Cao Shumin, the deputy director of the State Internet Information Office of the Mainland, launched the “Digital China Development Report (2022).”

The report highlights that the digital infrastructure in China has significantly improved, with the opening of 312,000 5G base stations and 561 million 5G users, accounting for over 60% of the world. The Gigabit optical networks have the potential to cover more than 500 million households, and the mobile Internet of Things terminal users will reach 1.845 billion households, making China the first country in the world to achieve “superhuman things.”

Furthermore, China has more than 700 million active IPv6 users, and mobile network IPv6 traffic accounts for 50%. The total scale of computing power exceeds 180EFLOPS, ranking second globally, with an annual growth rate of almost 30%. The report also highlights that more than 80 million units (sets) of connected devices are on the industrial Internet platform.

The State Cyberspace Administration of China launched the evaluation of Digital China’s development level in 2022, focusing on the effectiveness of the provinces, municipalities, and autonomous regions in terms of consolidating the foundation, empowering the whole domain, strengthening capabilities, optimizing the environment, and organizing guarantees. Zhejiang, Beijing, Guangdong, Jiangsu, Shanghai, Fujian, Shandong, Tianjin, Chongqing, Hubei, and other regions ranked among the top 10 in mainland China in terms of comprehensive digital development.

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