The digital economy has been dubbed the “third great economic revolution” after the agricultural and industrial revolution and is seen as a stabilizer in the midst of the devastating global pandemic. A white paper published at the Global Digital Economy Conference 2021 in Beijing shows that China’s digital economy grew 9.6 percent to $ 5.4 trillion last year, second only to the US at $ 13.6 trillion Job.
What is driving the digital economy? What does this growth say about China’s economic policy? And what opportunities and challenges can we expect from this young but exploding industry?
To answer these and other questions, we asked Wang Dan, Chief Economist of Hang Seng Bank (China); Rebecca Christie, non-resident fellow of Bruegel; and Hong Hao, Chief Strategist at Bank of Communications (International).