China
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Local Governments to Boost China’s Digital Economy
Eka Santhika
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During the state visit to China, President Ferdinand R. Marcos Jr. secured US$22.8 billion in investments and is working with Chinese businesses for knowledge transfer on AI and cloud computing.
To enhance the ease of doing business and investment, China launched the Chengdu business environment 5.0 along with Ten Measures as guidance to push digital transformation and foster entrepreneurship.
During the visits to China, the Philippines signed an agreement with China to cultivate e-commerce and others trade relationships and policies between the two countries.
According to the China Academy of Information and Communications Technology (CAICT) white paper, the country has 50% of big data patents, ranking China first worldwide.
The Chinese Cabinet released a new document to standardise data flow domestically and internationally to clearly define data governance in businesses and map government supervision boundaries.
Extensive research makes China the only mid-income country in the top 20 worldwide, the top 100 science and technology clusters for the first time and has two cities as the world's second and third-most innovative sci-tech clusters.
As the world's largest logistic sector, China aims to enhance efficiency and competitiveness through modernisation plans which align with the country's digital transformation effort.
The high-tech industrial development zones are to help small and medium-sized enterprises to improve capabilities, reduce costs and shorten transformation cycles in an effort to grow the nation and achieve economic ambitions.
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