China’s digital economy ranks second in the world for many years which vividly reflect essential elements of diversification, innovation and modernization of its national economy becomes one of the key pillars of its socio-economic and industrial growth too. Addition it has become a major growth engine for the country marching toward further opening-up and modernization.
According to the Chinese Cyberspace Administration report, the scale of China’s digital economy reached 50.2 trillion RMB (about US$7.25 trillion) in 2022, accounting for 41.5 percent of the GDP which shows signs of stability, sustainability and diversification in the Chinese economy.
