Stimulating the traction of new elements of data – Xinhua English.news.cn

According to the “China Digital Economy Development Report (2022)” released by the China Academy of Information and Communications Technology recently, the scale of China’s digital economy will reach 45.5 trillion yuan in 2021, a nominal increase of 16.2% year-on-year, accounting for 39.8% of GDP. Developing the digital economy and promoting the deep integration of the digital economy and the real economy is the key to exploring the high-quality development of China’s economy.

In the past few years, domestic demand has played an important driving role in my country’s economic development. Consumption accounts for a large proportion of GDP, and the domestic economic cycle occupies a dominant position. But the potential of my country’s economy and consumer market goes far beyond that. Accelerating the development of digitalization and creating new economic formats can expand domestic demand by creating new consumption forms and scenarios to promote high-quality consumption. From this perspective, the digital economy plays an important role in driving consumption upgrades and improving the domestic demand system. New business formats and new models such as live e-commerce, online consultation, and online medical care have developed rapidly in recent years, and have played an active role in promoting employment, expanding domestic demand, and boosting the economy, fully reflecting the digital economy’s role in optimizing the industrial structure and its facets. Strong resilience and resilience to pandemic shocks. At the same time, the digital economy can promote supply-side structural reforms, drive high-quality demand with high-quality supply, and unblock circulation. The digital economy can also adjust the economic structure and promote economic transformation by increasing supply entities, optimizing supply methods, improving supply quality, and improving supply efficiency.

At present, the digital transformation of my country’s economy has reached a critical period, and the digitalization of the production field will be the highlight of the development of the digital economy. Embedding data as a new factor of production in all aspects of production, circulation and consumption will improve the allocation efficiency of traditional concept elements and reshape the value chain and industrial chain. The digital economy cannot exist completely separated from the real economy, and deepening the integration and development with the real economy will play its value-added role. Therefore, promoting the deep integration of the digital economy and the real economy has great potential to stimulate economic growth. However, at present, the digital economy industry is still facing the problem of uneven development. For example, the service industry has taken the lead in the digital transformation, while the digital transformation of industry and agriculture is relatively lagging behind. How to make full use of the advantages of my country’s massive data and rich application scenarios, and how to adapt to local conditions, problem-oriented, and quickly realize the deep integration of the digital economy and the real economy is an issue worthy of in-depth consideration.

In this regard, we should give full play to the advantages of my country’s massive data and rich application scenarios, deeply grasp the trends, status quo and challenges of the integrated development of my country’s digital economy and real economy, make great efforts to tap the potential of the digital economy, and strive to stimulate the digital economy’s traction on national economic growth. . It is necessary to be problem-oriented, focus on solving problems that arise in the development process, pay more attention to cultivating a market environment, and promote more adequate and balanced integrated development. It should empower the transformation and upgrading of traditional industries, give birth to new industries, new formats and new models, promote better service of the digital economy and integration into the new development pattern, and give full attention to the industrial agglomeration effect of the digital economy. The global competitiveness of important cities such as Beijing and Shanghai should be enhanced, and a group of large enterprises with international competitiveness and ecologically-led enterprises with industrial chain control should be cultivated to help my country’s digital construction and the improvement of international competitiveness. Make my country’s digital economy stronger and better.

(The author is a high-end think tank consulting expert at the Capital Development Research Institute of Peking University)