BUSINESS China issues plan to further develop the digital economy


China issues plan to further develop the digital economy


23:22, January 12, 2022

China will spur the development of the digital economy. (Photo: CFP)

China's State Council issued a plan on Wednesday to further push for development in the country's digital economy, ranging from 5G to e-commerce.

The value-added of the digital economy will account for 10 percent of China's GDP by 2025, according to the plan, rising from 7.8 percent in 2020.

The size of the software and information technology service industry is set to grow from 8.16 trillion yuan ($1.28 trillion) in 2020 to 14 trillion yuan in 2025, while online retail sales is expected to increase from 11.76 trillion yuan in 2020 to 17 trillion yuan in 2025.

China will push for the construction of a gigabit optical fiber network and 5G network infrastructure as well as promote the commercial deployment and large-scale application of 5G, according to the plan.

It will also increase the support for 6G technology research and development, and actively participate in the international standardization of 6G.

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