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The Belt and Road Initiative (BRI) has seen a profound transformation through digital collaboration, catalysing the growth of the digital economy and global trade. Experts assert this synergy is a key driver in fostering worldwide economic recovery.
China’s National Development and Reform Commission has underscored the importance of BRI’s digital cooperation, emphasising its role in promoting global economic growth. Through collaborative efforts, nations are advancing their development and enhancing the worldwide digital ecosystem. This fusion of technology, trade, and diplomacy is paving the way for a new era of global economic interdependence and shared prosperity.
The BRI countries have united to establish an open, fair, equitable, and nondiscriminatory environment for the digital economy. This cooperative spirit extends to bolstering regulatory frameworks, standards, and regional policy coordination over the past decade.
Deputy Head of China’s National Development and Reform Commission, Cong Liang, emphasised the substantial progress made in advancing digital economic cooperation within the BRI economies.
He underscores the commitment to encouraging Chinese and foreign enterprises to collaborate in high-quality sectors, including e-commerce, mobile payments, smart cities, remote healthcare, digital education, and industrial transformation.
The goal is to harness digital technologies to drive high-quality economic development and enhance living standards, ensuring the benefits of the digital economy are accessible to all BRI economies.
The State Council Information Office’s recent white paper highlights China’s strides in strengthening digital partnerships. By the end of 2022, China had signed memorandums of understanding (MoU) with 17 countries to develop the Digital Silk Road, cooperated on e-commerce initiatives with 30 nations, and enhanced investment cooperation in the digital economy with 18 countries and regions.
Further, China is actively bolstering digital infrastructure connectivity and advancing digital corridors. Significant progress has been made in laying international submarine cables, with 130 cross-border terrestrial cable systems already operational.
One notable project is the SEA-H2X submarine cable, spearheaded by China Unicom. This venture, initiated in May 2022 and slated for operation in 2024, will connect Hong Kong and Hainan province in China, the Philippines, Thailand, Malaysia, and Singapore.
Future expansion plans include extending the cable network to Vietnam, Cambodia, and Indonesia. Upon completion, this subsea cable project will satisfy Asia’s surging demand for network bandwidth, expediting the digital transformation and industrialisation of various sectors across the region and the world.
In addition to infrastructure development, many Chinese companies are offering digital services on a global scale. Initiatives like the Silk Road E-commerce Platform of the Brand, Quality Online Shopping Festival, and Quality African Products Online Shopping Festival have yielded encouraging results. Virtual country pavilions online facilitate partner economies in exporting their high-quality products to the Chinese market.
The innovative Cloud Classroom programme has further underlined China’s commitment to digital literacy. It has delivered live-streamed training sessions to over 80 BRI economies, strengthening their digital skills and competencies. With these, the nation believes that the evolving landscape of digital cooperation within the BRI is playing a pivotal role in steering the global economy towards recovery and growth.
Also, local experts predict that ongoing digital initiatives will usher in a fresh era of global economic interdependence and prosperity, driven by visionary international cooperation citing that the harmonious integration of digital technologies, infrastructure development, and cross-border collaboration is transforming the BRI into a digital powerhouse, with ripple effects that extend well beyond its borders.
