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China’s cabinet says it will promote transformation of digital economy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO China’s official digital currency app is shown on a smartphone placed next to an illustration of the Chinese flag. This picture was taken October 16, 2020. REUTERS/Florence Lo/Illustration

(Reuters] – China’s cabinet released Wednesday a plan to develop its digital economy. It aims at increasing the sector’s percentage of national GDP and pushing technology like big data centres and 6G.

For 2025, the State Council has set several goals. These include increasing the share of digital economy in national GDP from 7.8% to 10% by 2025.

Others targets were to accelerate the building of large data centers, and increase the number of users gigabit broadband. This is the fastest available connection speed, with a maximum of 6.4 million people in 2020, increasing to 60 million by 2025.

Additionally, the State Council pointed out that structural problems in China’s digital economy needed to be fixed.

“The digital development in China’s economy faces many problems and difficulties: the absence of innovation capacity, particularly in key areas…data resource are vast but not fully utilized; the governance system for the digital economy must be improved,” the plan states.

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