Digital Economy Empowers Development of East China Jiangxi Province

November 25, 2023 03:24 AM NZDT | By EIN Presswire
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The province has promoted industrial upgrading through the utilization of digital and smart technologies.

NANCHANG, JIANGXI, CHINA, November 24, 2023 / -- Digital economy of east China’s Jiangxi contributed 35 percent to the province's gross domestic product, according to a white paper on Jiangxi's digital economy development.

The digital economy in east China's Jiangxi Province registered 19.5 percent year-on-year growth in 2021, reaching nearly 1.04 trillion yuan (around 154 billion U.S. dollars), according to local authorities.

The province has promoted industrial upgrading through the utilization of digital and smart technologies, pressed ahead with the building of national pilot zones for the innovative development of the digital economy, and carried out the digital transformation partnership campaign, and the small and medium enterprises (SMEs) digitalization campaign.

"The development of the digital economy should firstly fall on the enhancement of the capacity of the digital industry," said Jiang Xin, director of the Jiangxi Provincial Development and Reform Commission's High Technology Industry Division, adding that in 2022, the Provincial Development and Reform Commission, in conjunction with relevant departments and research institutions including the China Academy of Information and Communication Technology (CAICT), put forward the main focus on 20 tracks such as professional chips, electronic materials, VR, industrial Internet, and smart agriculture.

"New infrastructure" is the cornerstone of the digital economy development. Up to now, Jiangxi Province has built a total of 65,000 5G base stations, with 5G network established to realize the "township pass”, above that of the country’s average.

During 2016-2021 period, the digital economy added value of Jiangxi increased by 1.6 times, with a compound annual growth rate of 20.7%, higher than Jiangxi's 10.7 percentage points GDP growth rate during the same period. The province's digital economy accounted for 35 percent of GDP in 2021 from 21.9 percent of 2016, with annual growth rate of 2.6 percentage points, higher than the country’s average of 0.9 percentage points.

In 2021, the total volume of Jiangxi's digital economy was 1.038 billion yuan, with a year-on-year growth rate of 19.5%, among the country’s top three. Digital economy has become a new engine of high-quality development of Jiangxi's economy

Jiangxi has also optimized the industrial structure of the digital economy, with digital industrialization volume reached 130.82 billion yuan, accounting for 12.6% of the overall of the digital economy, up 4.1 percentage points from that of 2020. The scale of industrial digitization reached 907 billion yuan, accounting for 87.4% of the overall scale of the digital economy.

Ann Smith
People's Daily Online USA
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