Internet innovation set to drive growth

The 13th FiveYear Plan (201620) emphasizes the need to further develop China's online economy, asMeng Jing andWang Zhuoqiong report.

Internet-enabled innovation is set to play a major role in fueling China's economic growth, after the draft outline of the 13th Five-Year Plan (2016-20) indicated that the central government is placing strong emphasis on the development of the Web-based economy.

Although the rapid development of China's e-commerce sector is a perfect example of how the application of Internet technologies can expand domestic consumption, some ambitious players believe that there is still huge potential after the so-called Internet Plus strategy successfully revolutionized the retail industry.