(Excerpts from Building Up the Strength, Quality, and Size of China’s Digital Economy by Xi Jinping, Qiushi Journal, No. 01, 2022)
Sound development of the digital economy will help modernize our economic system
As a new production factor, data will exert a major influence in the transformation of traditional production modes. The digital economy has a high level of innovation, a strong tendency to permeate other sectors, and an extensive reach. It is not only a new growth driver but a fulcrum of transformation and upgrading in traditional industry, and it has the potential to become an important engine of economic modernization.