Digital economy set to extend

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DIGITAL economy contributed a third of China’s gross domestic product in 2016, and business leaders yesterday predicted the integration between IT and manufacturing will boost the digital economy, innovation and nation’s economic transformation.

The digital economy chipped in 23 trillion yuan (US$3.3 trillion) last year, accounting for 30.6 percent of the GDP. Internet Plus services created 2.8 million new jobs, industry officials said during the 2017 China Internet Plus & Digital Economy Summit.

Cloud computing, Big Data and Internet of Things, which are now used in consumer, health care and e-government sectors, will be widely used in retail, manufacturing and transport, and influence the economy deeply, said Pony Ma, chairman of Tencent.

The integration between Internet Plus and traditional industries supports the national Internet Plus and Made in China 2025 strategies, in which China seeks to inject advanced technologies in domestic industries.

The integration covers e-commerce applications in rural regions, smart manufacturing and supply chain.