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China Unveils Five-Year Plan (2021-25) for Digital Economy Development

Tue, 15 Feb 2022
Categories: China Legal Trends

On 12 Dec. 2021, China’s State Council issued the “14th Five-Year Plan for Digital Economy Development” (hereinafter “the Plan”, “十四五”数字经济发展规划), which clarifies the objectives and strategy for boosting China’s digital economy in the 14th Five-Year period (2021-2025).

According to the Plan, China anticipates that, by 2025,

  1. the added value of core industries in the digital economy will account for 10% of GDP (up from 7.8% in 2020);
  2. the active users of IPv6 will reach 800 million (up from 460 million in 2020);
  3. users of gigabit broadband will increase to 60 million (up from 6.4 million in 2020);
  4. the software and information technology service industry will expand to CNY 14 trillion (up from CNY 8.16 trillion in 2020);
  5. 46% of Chinese industrial enterprises will be connected to “industrial internet platforms” (up from 14.7% in 2020);
  6. Online retail sales will reach CNY 17 trillion (up from CNY 11.76 trillion in 2020); and,
  7. E-commerce transactions will be worth CNY 46 trillion (up from CNY 37.21 trillion in 2020).

In addition, China will develop a market system for data elements in the promotion of market-based circulation of data elements.

Moreover, the Plan encourages building online dispute resolution mechanisms and channels.

 

 

Cover Photo by Cheng Qi Huang on Unsplash

Contributors: CJO Staff Contributors Team

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