China's digital trade will reach 37 trillion yuan by 2030
发布日期：2019-03-29
The digital revolution: how China is attracting digital trade opportunities at home and abroad. According to the report, digital trade has created economic benefits of up to 3.2 trillion yuan ($466 billion) in China. Without the impact of digital trade barriers at home and abroad, the figure would rise more than 11-fold to 37 trillion yuan ($5.5 trillion) by 2030.
China's digital exports totaled 1.6 trillion yuan ($236 billion) in 2017, making it the country's second largest export sector, according to the report. It is estimated that if digital trade is fully utilized, the value of China's digital exports will increase by 207% to 5 trillion yuan ($726 billion) by 2030. Among them, the value of China's exports of digital products could more than triple by 2030. Exports of e-commerce and digital applications, which are expanding rapidly, are the main drivers of this growth, the report said.
Digital services exports are also expected to grow in value. According to the report, import of digital services is the key to driving the export growth of non-digital sectors. In traditional industries such as manufacturing, imported digital services such as E-mail, video meetings, digital file sharing and voice over Internet protocol services and data processing can help Chinese companies reach new markets.
Aiming at the current development of China's digital trade, the report pointed out that China has taken a key step to improve cross-border e-commerce, a key part of digital trade, by passing its first e-commerce law in August 2018, aiming to balance interests and rights of all parties and improve the competitiveness of this economic sector. The report suggests that China could take further steps to create a more conducive environment for the development of cross-border data. The report recommends that China ensure a robust and efficient data management framework and take proactive measures. The report also recommends trade facilitation measures to improve customs clearance and delivery efficiency for low-value small parcels, reduce some procedures and tariffs, and further facilitate cross-border transactions. The report also says China needs to align with the world in digital trade rules. (source: economic information daily)
China's digital exports totaled 1.6 trillion yuan ($236 billion) in 2017, making it the country's second largest export sector, according to the report. It is estimated that if digital trade is fully utilized, the value of China's digital exports will increase by 207% to 5 trillion yuan ($726 billion) by 2030. Among them, the value of China's exports of digital products could more than triple by 2030. Exports of e-commerce and digital applications, which are expanding rapidly, are the main drivers of this growth, the report said.
Digital services exports are also expected to grow in value. According to the report, import of digital services is the key to driving the export growth of non-digital sectors. In traditional industries such as manufacturing, imported digital services such as E-mail, video meetings, digital file sharing and voice over Internet protocol services and data processing can help Chinese companies reach new markets.
Aiming at the current development of China's digital trade, the report pointed out that China has taken a key step to improve cross-border e-commerce, a key part of digital trade, by passing its first e-commerce law in August 2018, aiming to balance interests and rights of all parties and improve the competitiveness of this economic sector. The report suggests that China could take further steps to create a more conducive environment for the development of cross-border data. The report recommends that China ensure a robust and efficient data management framework and take proactive measures. The report also recommends trade facilitation measures to improve customs clearance and delivery efficiency for low-value small parcels, reduce some procedures and tariffs, and further facilitate cross-border transactions. The report also says China needs to align with the world in digital trade rules. (source: economic information daily)
