CHINA China's digital economy hits $7.1t: white paper

CHINA

China's digital economy hits $7.1t: white paper

Xinhua

20:20, July 30, 2022

BEIJING - China's digital economy reached $7.1 trillion in 2021, according to a white paper on the global digital economy.

A staff member of the Bank of Communications Beijing Branch instructs a visitor to open a digital RMB wallet on a mobile phone, on June 16, 2021. (Photo: Xinhua)

The country's digital economy accounts for more than 18 percent of the amount of 47 major countries included in the white paper, ranking second after the United States, said the white paper issued by the China Academy of Information and Communications Technology on Friday.

Digital economy is a key force driving China's economic development. The white paper shows that from 2012 to 2021, the average growth rate of China's digital economy was 15.9 percent, and the country's digital economy's share in GDP increased from 20.9 percent to 39.8 percent.

According to the research, Germany, Britain, and the United States ranked among the top three in terms of their digital economy's share in GDP, all exceeding 65 percent. While in terms of growth rate, Norway's digital economy increased by 34.4 percent year on year, the fastest globally.

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