Digital economy stimulates China’s economic vitality
July 02, 2024 09:41 Source: "China Social Sciences Journal" Issue 2924, July 2, 2024 Author: Our reporter Zhao Qi

The digital economy is an important part of the national economy。Digital economy provides new space for expanding market demand,Provides a new engine for innovation and development,Provides new channels for employment and entrepreneurship,Provides new support for public services。In recent years,With the continuous development of technology,Digital economy has become a key driving force for high-quality economic development。Recent,At the United Nations Conference on Trade and Development (UNCTAD) Global Leaders Forum to celebrate the 60th anniversary of the institution,The digital economy has once again become a widely discussed key issue。Attendees unanimously agreed,The digital economy is a transformative force,Has the potential to drive sustainable and inclusive development,But the existence of the digital divide also brings the risk of increasing inequality。Therefore,The international community needs to strengthen cooperation,Work together to address risks and challenges in the development of the digital economy。Recently,Our reporter discusses the development trend of digital economy in the world、Interviewed relevant scholars on China’s digital economy development prospects and other topics。

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Digitization is changing people’s lives、Work、Learning、How to consume and do business,Technological progress、The popularity of the Internet and smart terminals has promoted the exponential growth of online transactions。According to relevant reports of the United Nations Conference on Trade and Development,2021,Businesses in 43 developed and developing economies generate nearly $25 trillion in e-commerce sales。Sharon Coyle, senior lecturer at the Business School of the University of New South Wales in Sydney, Australia, told this reporter,The strong Bet365 lotto review vitality displayed by the digital economy not only brings new economic growth points to developed countries,Also brings potential for economic transformation in developing countries。Compared with developed countries,Developing countries pay more attention to the digital economy,Because it can significantly promote economic growth、Creating new employment models and narrowing the gap between rich and poor。Digitalization and e-commerce make new business models possible,Reduced startup costs,Increased access to regional and global markets for small businesses and entrepreneurs in developing countries。For consumers,Digitalization means people have more convenience、Lower price、Choose more products。It can be said,The digital economy is not just about technology,It’s also about people。It aims to create opportunities for everyone,No matter where they are or what their background is。

But globally,The digital divide still exists,This could lead to an increase in many inequalities。Coyle thinks,Many developing countries still face some challenges in building a digital economy,Including imperfect laws、Incomplete infrastructure、Limited financial resources、Complex regulatory landscape and lack of digital skills among the population。According to relevant research statistics,Only 35% of the population in the least developed countries has access to the Internet,compared to 67% globally。According to data released by the International Telecommunication Union,Globally,The gender digital divide still exists,65% of women have access to the Internet,The proportion for men is 70%。Underlying gender inequality limits the development opportunities for many women in the e-commerce field。Meanwhile,The distribution of benefits from global data flows is uneven,Large digital platforms control the data value chain from collection、Transport to most parts of storage and analysis。In addition,Online consumers also face low information accuracy、Issues such as the risk of data privacy leakage and the lack of effective bet365 best casino games online dispute resolution channels。

"Harvard Business Review" has also published an article discussing the importance of the digital economy,Mentioned in the article,The global economy is experiencing a massive event、Accelerated digital transformation,Thus giving rise to new business models and innovative products and services。The digital economy continues to grow at a rapid pace,It is expected to continue to accelerate growth in the future period。The vigorous development of the digital economy is based on the ability to promote smoother business processes、On the basis of a digital platform that achieves higher economic value,Those businesses embarking on digital transformation can achieve their goals through the latest technologies,Get faster responses and higher profits。

  Building a comprehensive digital ecosystem

​​China’s digital economy has always been at the forefront of the times。While some other countries are still in deep economic growth difficulties、When you don’t understand QR codes and e-commerce platforms,Chinese people are already using these digital methods to meet their daily needs。Hanna Halaburda, associate professor at New York University Stern School of Business, told this reporter,Past ten years,China’s digital trade drives rapid economic growth。The rapid development of China’s digital economy benefits from its active consumer market,More than 900 million Chinese people shop online。As a country with more than 1 billion Internet users,More than 80% of Internet users are willing to consume on e-commerce platforms,This is a rare phenomenon in other markets。With the active support and market supervision of the Chinese government,China’s consumer confidence index is rising year by year。The higher consumption enthusiasm and willingness of Chinese netizens are related to their degree of online participation,Many Internet users are content creators on online platforms。Different from traditional industries,Social networking platform allows users to share reviews after purchasing items,These valuable resources Bet365 lotto review allow companies to attract more customer groups,Continuously improve marketing strategies。From passive consumption to active participation,Let some key opinion leaders on the Internet become an important force in China’s digital ecosystem。China’s online shopping platform has wide coverage、Involving a wide range of categories,It has become the main daily consumption “place” for many netizens,And then promote logistics、Rapid growth in other industries such as payment processing and digital advertising。In addition,The mature network environment provides new opportunities for small and medium-sized enterprises,It also opens up new channels for international brands to enter the Chinese market。

When exploring the roots of the powerful influence of China’s digital economy,Barry Avery, associate professor at Kingston University Business School in the UK, thinks,This mainly comes from three aspects。Second,China’s Internet penetration rate reaches 77.5%,Higher level。This high penetration rate promotes a flourishing digital ecosystem。Second,The rapidly developing smartphone industry。Frontier technological innovation has led to an increase in the number of smartphone users year by year,Accelerate the formation of online shopping、Business models with multiple forms of linkage such as online interaction and digital content consumption。Third,Affordable digital technology。Accelerating the construction of new infrastructure in China,Enable people living in remote rural areas to enjoy the convenience of the Internet,Participate in the construction of digital ecosystem。

Avery also mentioned,Western social media platforms focus on a single function,And in China,It usually covers information、Social、E-commerce、Integrated functions such as payment services。The benefits of consolidating all these resources into one application are,Users can experience the service anytime and anywhere,Thus accelerating the construction of a digital society,Promote the healthy development of digital economy。

 Digitalization accelerates the transformation and upgrading of traditional Chinese enterprises

Michael Cusumano, Distinguished Professor at MIT Sloan School of Management, has done detailed research on the platform economy, a typical representative of the digital economy,Analyzed a large number of unicorn companies with platform businesses。He mentioned,If companies can seize the opportunities brought by the platform economy,You can gain more advantages in core business areas,The right digital strategy can help companies reach new markets across borders。But not every company has the ability to build its own digital platform。He thinks,Platform economy wants to succeed,Trust needs to be established first,Including between users、Between competitors、Trust between administrators and users,In this way, a healthier and more transparent platform can be built。After establishing a trust relationship,The rules of the platform can be more applicable,The stronger the stickiness between users and the platform。Secondly,Need to form a fair relationship。For example,Users can negotiate with the platform,Product development and sharing,Let users and the platform share economic dividends。Finally,Need to clarify rules。Platforms must publish rules that are easy for the public to understand and apply,Break the dominance of platform managers and possible power imbalances,Thus attracting a wider range of users。

What are the development trends of China’s digital economy and platform economy? Hala Burda said,The digital strategies and development paths of Chinese enterprises have certain reference significance for digital enterprises and traditional enterprises in other countries。The digital transformation of Chinese enterprises has not only expanded their business scale,Also carried out disruptive innovation,Retailing from omni-channel、Fintech、On-demand services to mobility、Fintech、Medical diagnosis and treatment and other fields,Everyone is undergoing digital transformation。The Chinese government’bet365 live casino games s positioning of the platform economy is in line with the characteristics of China’s economic development。In order to support the comprehensive development of the platform economy,The Chinese government has issued multiple guidelines。

Coyle thinks,There are three reasons why Chinese companies’ digital transformation is relatively successful。First,Businesses are more flexible and agile,Breaking the organizational operation model of traditional enterprises。Secondly,Enterprises encourage innovation and form a constructive competitive culture。Finally,Enterprises focus on incubating and expanding new business platforms。Future,How China develops in digital economic innovation deserves special attention。For example,Consolidation of fragmented retail units will continue,And expand to channels、Retail、Supply chain and many other aspects。New business forms resulting from the accelerated integration of the digital economy and the real economy will emerge in large numbers。Digitalization has also accelerated the innovative development of a series of service industries,Digitization in areas such as health insurance and education can improve efficiency、Improving issues such as uneven resource allocation。It can be said,The widespread use of Chinese electric vehicles in many countries and regions around the world is a major success story in China’s promotion of global digital innovation。Behind the successful application of electric vehicles and their fully autonomous driving technology,It is a Chinese company in artificial intelligence、Software Development、Algorithm application and entire industry chain、The result of continuous technological research and development and innovation in the supply chain field。These companies are taking on more social responsibilities at the same time,Also in environmental protection、Making significant contributions to the construction of smart cities。

Cusumano thinks,Chinese manufacturing companies will increasingly apply digital manufacturing bet365 live casino games that supports the Industrial Internet of Things,To improve efficiency and sustainability。In the 11th batch of global "lighthouse factories" newly announced by the World Economic Forum,13 Chinese companies are newly selected。“Lighthouse Factory” is known as “the most advanced factory in the world”,is a demonstrator of the development of digital manufacturing and Industry 4.0,Represents the leading level of global intelligent manufacturing and digitalization。These companies cover automobiles、Consumer goods and household appliances and other industries,May expand to steel in the future、Machine tools and more manufacturing industries。They have become a powerful guarantee for the high-quality development of China’s economy。

Editor: Zhang Jing
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