China's cabinet says it will promote transformation of digital economy

China's cabinet issued a plan on Wednesday for the development of the country's digital economy, aiming to increase this sector's share of national GDP by pushing technologies like 6G and big data centers. The State Council also pointed out structural issues in China's digital economy that needed to be addressed.

China's cabinet issued a plan on Wednesday for the development of the country's digital economy, aiming to increase this sector's share of national GDP by pushing technologies like 6G and big data centers. The State Council set several targets for 2025, namely the increase of the digital economy's share of the national GDP from 7.8% in 2020 to 10% in 2025.

Other targets included accelerating the construction of big data centers and increasing the number of users of gigabit broadband, the fastest connection speed available, from 6.4 million in 2020 to 60 million in 2025. The State Council also pointed out structural issues in China's digital economy that needed to be addressed. "The development of China's digital economy also faces some problems and challenges: the lack of innovation capacity in key areas...data resources are huge, but the potential has not been fully released; the digital economy governance system needs to be further improved," according to the plan.

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