A new report points to a surge in China’s digital trade surplus in 2019, as Beijing steps up efforts to drive the growth of the digital economy.
The “2020 China Digital Trade Development Report” (2020年我国数字贸易发展报告) released by the National Industrial Information Security Development Research Development Centre (国家工业信息安全发展研究中心) indicates that in 2019 China’s digital trade surplus was 187.39 billion yuan, for a YoY rise of 46.1%.
The trade surplus was greatest for telecommunications and computing and information services, standing at 190.48 billion yuan for these sectors, making them China’s strongest overseas performers in terms of its digital economy.
The Report said that 5G, artificial intelligence, big data, cloud computing, the blockchain and other new technologies would have a major impact upon trademarks, trading partners and trading methods, as well as drive increases in the efficiencies of cross-border trade, and profound changes in the international division of labour.
The Report also called for the accelerated development of a “China plan” in the area of digital trade, covering the four areas of a digital trade development strategy, optimisation of the digital trade industrial structure, acceleration of the digitisation of services trade, and the creation of an outstanding digital regulatory environment.