Chinese Premier Li Qiang stated during the cabinet meeting on Monday that Beijing will focus on developing "core industries" in digital economy and promoting its development.
According to the premier, expanding the digital economy will contribute to China's overall economic recovery. Li pointed out that the country has "multiple" advantages, including "massive" data resources and a "large" market that will aid the further developlemt of the digital economy, adding that the goal is to promote "integration" of digital technology and real economy.
Namely, the added value of Beijing's digital economy reached 918.05 billion yuan (~ $127.5 billion) in the first half of 2023, the local authorities reported, with China's digital economy expanding to 50.2 trillion yuan in 2022 and accounting for 41.5% of the nation's GDP.
