China seeks to promote digital economy to further economic growth

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China seeks to promote digital economy to further economic growth

Even as the trade stand-off between the US and China continues to create uncertainty, the Asian giant is attempting to bolster its economy by focusing on pushing on the digital sector. At present, the digital economy of China is poised at about $3.8 trillion and it wants to ensure that Artificial Intelligence (AI) becomes a medium to bring about this change, especially to help create jobs.

The Chinese National Development and Reform Commission (NDRC) stated, "China will promote the digital transformation of traditional sectors, driving more workers to switch jobs and improve the quality of employment."

Currently, the Chinese government is keen on ensuring long-term development for the country by improving the technological arena. The country's officials believe that doing so would help the country in two ways. One by creating high-profile employment opportunities in areas such as cloud computing, big data and even AI.

And the second by bringing about foreign investment by way of employable talent to further boost their digital sector. The present value of the Chinese digital economy, meanwhile, is one-third of their total GDP. The China Academy of Information and Communications Technology cites that the Chinese digital economy increased by around 26% to reach its present figure.