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Digital economy is ‘new growth engine’
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With the COVID-19 epidemic hitting global economic and social development, the digital economy is viewed as a new engine for global economic recovery, the Chinese Academy of Cyberspace Studies said in a report yesterday.
The outbreak has accelerated the digital transformation of the global economy, with the digital economy likely to become a key force that reshapes the economic system and enhances governance capacity, said the World Internet Development Report 2020, which was released during the 2020 World Internet Conference — Internet Development Forum, held in the watertown of Wuzhen, in east China’s Zhejiang Province.
According to the report, the pandemic has stimulated the demand for cloud-terminal coordination and intelligentization, while Internet-related industries gain new development opportunities.
The digital economy accounted for between 4.5 and 15.5 percent of the world’s GDP in 2019, according to the Digital Economy Report 2019 released by United Nations Conference on Trade and Development.
At the start of 2020, over 4.5 billion people were using the Internet, with 3.8 billion social-media users and nearly 60 percent of the global population online, according to the Digital 2020 Global Overview Report, citing the World Internet Development Report 2020.
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