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Digital economy to expand rapidly in coming decade

By Zhang Jie | | Updated: 2020-11-11 13:49
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An AI logistics vehicle, developed by e-commerce giant Alibaba Group, undergoes a road test in Hangzhou, Zhejiang province. [Photo by He Chuang/For China Daily]

China's digital economy scale was expected to hit 120 trillion yuan ($18.19 trillion) by 2030, accounting for 35 percent of the global figure, news outlet Yicai reported on Wednesday.

As an innovation highland, the Yangtze River Delta region and Zhejiang province are world leaders in digital economy and data generation, with the two regions' digital economy reaching 30 and 12 trillion yuan respectively by 2030, Yicai said, citing a research institute.

The digital economy has become the new engine to drive China's economic growth, with the figure reaching 31.3 trillion yuan in 2019 and accounting for 34.8 percent of GDP, Shenzhen Economic Daily said.

Currently, the country's strategic emerging industries have maintained rapid growth, and new business forms and new models have emerged. By the end of last year, a total of 1,634 A-share listed companies carry on the strategic emerging industries, accounting for 43.4 percent of total listed companies, with 151 companies' revenue reaching more than 10 billion yuan.

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