People’s Daily Calls for Greater Financial Support for Growth of China’s Digital Economy

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The flagship newspaper for the Chinese Communist Party (CCP) has published a headline opinion piece in its economics section calling for greater financial support for the development of China’s digital economy.

The opinion piece by Wu Qiuyu (吴秋余) published by the People’s Daily on 15 November calls for “continuing to deepen supply side financial reforms, guiding more financial funds towards digital technology innovation and the development of the digital economy, and using high-quality financial services to continually satisfy economic and social development needs in the era of the digital economy.”

“In the current era, digital technology and the digital economy is the advance opportunity for the world tech revolution and industrial reform,” wrote Wu in the opinion piece entitled Provide More Financial Support to Digital Economic Development (为数字经济发展提供更多金融支持).

“The financial sector must embrace the era of the digital economy, grasp the development trends and rules of the digital economy, and allocate more financial resources to the cutting edge areas, key links and important industries for digital economic development.

“While driving the healthy development of the digital economy, the financial sector should achieve transformation and upgrade of itself, and add new impetus to the high quality growth of the Chinese economy.”

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