Digitalization Wave in the Chinese Economy

The government in China is directing its efforts towards creating and developing policies that encourage the market players to adapt to the ongoing digitalization activities. As part of the digital transformation, the market players have adopted smart manufacturing and other technology-driven initiatives. The goal of the Chinese government is to build and expand its manufacturing ability over the next decade by prioritizing certain tasks. With the Made in China 2025 initiative, some of the core areas of focus that will help drive digitalization in the Chinese economy are as follows: integrating existing processes with technology, boosting local Chinese brands, driving innovation in manufacturing, and adopting green manufacturing techniques.

Tech-Savvy Population and The Chinese Economy

Besides extensive government support, the Chinese economy is also benefitting as a result of the highly tech-savvy population who have effortlessly adapted themselves to digital devices and platforms. This has boosted the entire industrial ecosystem in China including industries such as retail, manufacturing, and telecommunications. With such amazing camaraderie between the citizens and their mobile devices, connected devices, and digital platforms that are used for various functions such as mobile payments, doing bank transactions, and utility bill payments among several others; thereby creating and developing opportunities to enhance the digital economy in China market.

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