Beijing authorities are planning to build a pilot zone for digital trade and big data exchange to boost the city’s digital economy.
The plans propose building a mechanism for digital economy development and will focus on the six major spheres of infrastructure: construction, digital industrialisation, industry digitisation, digital governance, data valuation, and digital trade development.
Beijing’s digital economy is planned to account for 55% of the region’s GDP by 2022, making Beijing a pioneer in the development of China’s digital economy.
On September 4, in his opening address at the 2020 China International Fair for Trade in Services (CIFTIS), Chinese President Xi Jinping said that the country’s central government supports Beijing’s initiative.
The Chinese central bank has also recently expanded its pilot program for digital currency.