China will accelerate the construction of a national level integrated big data centre system and information network infrastructure to coordinate computing power, algorithms, data, and application resources.
The State Council revealed it would focus on furthering the development of a digital economy during the 14th Five-Year Plan (2021-2025). By 2025, it aims to have it in full expansion mode, with the added value of core industries in the digital economy accounting for 10% of GDP.
To accelerate digital transformation in businesses, large-scale enterprises will be encouraged to build integrated digital platforms. There will also be efforts to deepen comprehensive digital transformation in key industries, such as the agricultural industry.
The council also emphasised the need to enhance innovation of key technologies in strategic and forward-looking fields like quantum information, network communications, integrated circuits, key software, big data, artificial intelligence, blockchain, and new materials.
It added there should be further integration between digital technology and the real economy, with a better digital economy governance system and a more competitive digital economy to be expected.
Market entities will also be encouraged to collect data in accordance with the law and data resources processing will be improved, with the data service industry to be fostered and expanded. Core industries should be more competitive and key products should be more self-sufficient, it said.
The Council considers the digitisation of public services to also be important, with efforts set to be made in improving the efficiency of Internet Plus government services and ensure digital social services benefit more people.
Lastly, the plan promoted the construction of smart cities and digital villages, with smart parking lots, charging centres, and dustbins will be encouraged in newly built residential areas.
China is not the only economy in the APAC region looking to boost its digital economy, as Australia said in December that it would invest an extra $252.5 million (£135.9 million) in further initiatives under its Digital Economy Strategy. The country’s goal is to become a leading digital economy and society by 2030.