China: Adapt To Digital Economy 'Torrent' Or Risk Being Left Behind

From Siti Fauziah Hasan

BEIJING, Sept 24 (Bernama) -- Stressing that countries must adapt to the 'torrent' of the digital economy or risk being left behind, China on Thursday called for greater digital connectivity, a narrower digital divide and stronger digital governance to make trade freer, more inclusive and orderly.

China's Foreign Ministry spokesperson Guo Jiakun said the development of the digital economy was bringing profound changes to international trade, including making market connectivity among countries more convenient.

Although the global economy had broad prospects, it was also facing new challenges and changes, including the digital divide, new trade barriers and changes in global rules, he said.

“Facing the torrent of digital economy development, those who adapt to it will thrive and those who go against it will perish. The international community should act in line with the trend,” he told a press conference here on the sidelines of the ongoing fifth Global Digital Trade Expo (GDTE).

Guo said that in advancing its own development, China had put forward three key reflections based on long-term practice.

“We should enhance digital connectivity to promote freer trade; bridge the digital divide to promote more inclusive trade; and improve digital governance to promote more orderly trade,” he said.

With its massive market and strong consumer demand, China attached importance to open cooperation in promoting the development of the digital economy and digital trade and would take practical steps to contribute to global digital trade, he said.

“China will continue to consolidate support for digital industries and empower global digital economy development,” he said.

He said China would also continue to optimise the digital development environment, actively improve international rules and contribute Chinese wisdom in the area.

Meanwhile, Guo said foreign leaders attending the opening of the fifth GDTE expressed readiness to work with China to bridge the digital divide and build a fair, inclusive, safe and globally beneficial digital trade order.

The GDTE, one of China’s major digital economy platforms that highlights artificial intelligence (AI) and global cooperation, is being held at the Hangzhou Grand Convention and Exhibition Centre from Sept 23 to 27, with Malaysian Prime Minister Datuk Seri Anwar Ibrahim also attending its opening ceremony.

-- BERNAMA