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Digital China Expected to Boost Economy

Industry analysts predict that China’s most recent initiatives to further its digital development would strengthen the country’s core global competitiveness, support digital transformation, upgrade industries, and establish a strong foundation for long-term economic growth.

They recognise that China has accelerated the development of digital infrastructure and a data resources system in recent years. The remarks were delivered after reading a relevant directive that was recently announced by the State Council, China’s Cabinet, and the Communist Party of China Central Committee.

According to the guidelines, creating a digital China is crucial for the growth of Chinese modernisation in the age of the internet. It claimed that a digital China will offer strong support for the creation of the nation’s new competitive advantage.

Considerable advancements will be made in the development of a digital China by 2025, with effective interconnection in digital infrastructure, a significantly better digital economy, and significant advances made in digital technology innovation.

China will be at the forefront of digital development by 2035 and its digital advancement in specific areas of politics, business, culture, society, and ecology will be more coordinated and sufficient.

The latest initiative to create a digital China, according to Pan Helin, co-director of the Digital Economy and Financial Innovation Research Centre at Zhejiang University’s International Business School, will not only give the digital economy a strong boost but also open new business opportunities for firms working in the telecommunications, computing, digital government affairs, and information technology sectors.

The guideline, he continued, is thorough and establishes a clear course for the nation’s impending digital transformation. With the economy under strain, emerging digital technologies like 5G, big data, and AI have been essential in boosting operational effectiveness, reducing costs, and accelerating digital and intelligent upgrades in businesses.

According to data from the Ministry of Industry and Information Technology, China added 887,000 new 5G base stations last year, bringing the country’s total to 2.31 million, or more than 60% of the global total.

China will work to speed up the implementation of digital technologies in critical industries such as agriculture, manufacturing, finance, education, health services, transportation, and energy, as well as to encourage their thorough integration with the real economy.

It was also specified that the appraisal and assessment of government officials will consider the development of a digital China. Additionally, efforts will be made to ensure capital infusion and to encourage and direct capital to take part in the nation’s digital development in a uniform way.

Further, the increased digital infrastructure development is crucial to support the industrial upgrade and foster new growth drivers, according to Chen Duan, director of the Central University of Finance and Economics’ Digital Economy Integration Innovation Development Centre. This is because of the increasingly complex global environment and geopolitical tensions.

The government’s plan establishes a defined course for China’s future digital development and will encourage local governments to actively contribute to the creation of a digital China under the direction of new incentives.

With this, more efforts should be made, according to Yin Limei, director of the digital economy research office at the National Industrial Information Security Development Research Centre, to strengthen the enterprises’ prominent role in technological innovation, make advancements in the integrated circuits industry, and foster a group of high-tech businesses with international competitiveness.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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