Tongxiang embraces rosy digital economy

Tongxiang - the city where Wuzhen, the permanent site for the World Internet Conference, is located - is targeting an output of more than 50 billion yuan ($7.18 billion) in its digital economy by 2020 taking advantage of the overflow effect of the annual cyberspace gala, which brings together top elites and experts from around the world.

Tongxiang established a science and innovation area in 2017 for the internet and advanced manufacturing sectors. The area includes a main urban district, an economic development zone and a characteristic town featuring a digital economy, said Sheng Yongjun, Party secretary of the city.

"In the first three quarters, the area has achieved an output of 37.2 billion yuan, accounting for 60 percent of the city's total," Sheng said.