BUSINESS Digital economy to top half of China's GDP by 2023: IDC

BUSINESS

Digital economy to top half of China's GDP by 2023: IDC

Xinhua

15:39, December 11, 2019

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File photo: VCG

BEIJING, Dec. 11 (Xinhua) -- About 51.3 percent of China's GDP would be digitalization-related by 2023 as the country's enterprises step up digitalizing their businesses, global market intelligence firm IDC predicted.

The research firm estimated that by 2025, at least 80 percent of China's new corporate applications would use artificial intelligence technologies.

Chief information officers would play bigger roles within companies by planning for innovative development, while there would be rising demand for professionals in ensuring digital security and compliance, IDC said.

China is on fast track for digitalization, while firms should take future-oriented strategies to prepare for related changes, said Kitty Fok, IDC China's managing director.

Chinese firms' spending on digital transformation has expanded over a threshold by accounting for 51 percent of their total information technology (IT) expenditure this year, a previous report by IDC and Chinese IT firm Inspur showed.

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