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