The Eighth Zhongguancun Big Data Day - Blockchain and Digital Economy Forum was held in Beijing on Dec 12. The forum aims to explore blockchain-focused independent innovation, and promote the integrative development of blockchains with digital twins, artificial intelligence, 5G and other emerging technologies, so as to achieve high-quality development of the digital economy.

The Eighth Zhongguancun Big Data Day is themed on blockchain and digital economy. [Photo provided to chinadaily.com.cn]

According to reports, the digital transformation of the global economy has accelerated. China's digital economic aggregate has reached 31 trillion yuan($4.44 trillion), and the number of its patent applications in the blockchain field has ranked first in the world in recent years. As the basic infrastructure of the digital economy, the technical progress of blockchain will determine whether China can gain a competitive advantage in the new round of industrial reform.

At the forum, the Zhongguancun Big Data Industry Alliance released the 2019 Zhongguancun Big Data Industry Development Index, according to which the current scale of Beijing's big data industry exceeds 200 billion yuan, with per capita revenue of 1.86 million yuan. Big data patent applications launched by Beijing, especially in its Haidian and Chaoyang districts, account for one-third of the country's total. Forty-six percent of big data patent applications were launched by enterprises.

Liu Hang, deputy inspector of Zhongguancun Administrative Committee, delivers a speech at the forum. [Photo provided to chinadaily.com.cn]

Zhongguancun Science Park is a home for enterprises engaging in research and entrepreneurship related to big data and blockchain technology. Liu Hang, deputy inspector of Zhongguancun Administrative Committee introduced at the forum that Zhongguancun introduced policies and measures in 2014 to accelerate the cultivation of Zhongguancun's big data industry cluster and promote industrial transformation and upgrading. It took the lead in the layout of the big data industry and guided the establishment of the Zhongguancun Blockchain Industry Alliance. The Zhongguancun Management Committee has also provided 200 million yuan to the key enterprises in the park for the industrialization of more than 20 high-grade, precision and advanced achievements and the construction of collaborative innovation platforms in the field of big data.

Guests exchanged views and shared experiences during the round-table dialogue. [Photo provided to chinadaily.com.cn]

It is reported that there are currently more than 1,600 big data companies in Zhongguancun. These companies have achieved an average annual growth rate of more than 20%, and obtained more than 5,800 patents, leading the country. As 22 of the top 50 China big data companies (2019) are located in Zhongguancun, which is the highest number in the country, Zhongguancun has become a pioneer in digital economy innovation and development.

Liu Hang said that in the future, Zhongguancun will promote the integrated innovation and fusion applications of cutting-edge new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things, promote digital industrialization and industrial digitization, and accelerate the integrative development of the digital economy and the real economy.

Yan Guanhe, Chairman of the Expert Committee of the China Information Industry Association, makes a speech at the forum. [Photo provided to chinadaily.com.cn]

Yan Guanhe, Chairman of the Expert Committee of the China Information Industry Association, said that in the era of digital economy technology integration and industrial reorganization are accelerated. In recent years, hot technologies have included big data, AR, VR, artificial intelligence, blockchain, and similar advances. Only by mastering and integrating them with the real economy can we achieve sustainable development.

Preparation work for the Digital Economy and Governance Research Center of Renmin University of China was launched at the forum. [Photo provided to chinadaily.com.cn]

On the same day, the preparation for the Digital Economy and Governance Research Center of Renmin University of China was launched. Qian Hui, President of the Blockchain Research Institute of Join-Cheer, released the "Blockchain + Government Application" blue book at the forum, where experts discussed topics such as "digital economy and social governance driven by big data and blockchain" and "key points in digital economy development".