The rule of law helps the development of digital trade onto the "fast lane". Last year, China's import and export volume of digital delivery services reached a historic high
2023-12-01
Core reading: China's digital trade is showing a rapid growth trend. In 2022, the import and export volume of digitalizable services in China reached $372.71 billion, a year-on-year increase of 3.4%, and the scale reached a new historical high. Among them, exports reached 210.54 billion US dollars, a year-on-year increase of 7.6%. Digital trade has become an important form of trade in the digital economy era, playing an important role in promoting economic recovery and growth. According to statistics from the World Trade Organization, the global export value of digital delivery services in 2022 was 4.1 trillion US dollars, a year-on-year increase of 3.4%, accounting for 57.1% of global service exports. Reporters recently learned at the Second Global Digital Trade Expo that in recent years, thanks to the high attention of the CPC Central Committee and the State Council, China has issued a number of laws and regulations on digital trade, and local regulations have also been issued in many places. China's digital trade has shown a rapid growth trend. Leading enterprises continue to flock to the opening ceremony of the second Global Digital Trade Expo. The Ministry of Commerce released the China Digital Trade Development Report (2022) (hereinafter referred to as the "Report"). According to the report, in 2022, the import and export volume of digitalizable services in China reached 372.71 billion US dollars, a year-on-year increase of 3.4%, and the scale reached a new historical high. Among them, exports reached 210.54 billion US dollars, a year-on-year increase of 7.6%. "China has achieved remarkable achievements in the field of digital trade, and has also become a global power in this field, demonstrating innovative methods, technological progress, and a vibrant entrepreneurial spirit." Zhang Xiangchen, Deputy Director General of the World Trade Organization, said in his opening speech. China's digital trade is constantly improving its competitiveness globally, thanks to a large number of excellent digital enterprises constantly growing and strengthening. According to the report, as of 2022, there are over 200 digital trading enterprises in China with a market value exceeding 1 billion US dollars. The 2022 Global Unicorn Enterprises Development Report shows that among the top 500 global unicorn enterprises, there are 227 Chinese companies, an increase of 12 from the previous year, ranking first in the world for four consecutive years. The total valuation reached 10.7 trillion yuan, a year-on-year increase of 19.3%. China's unicorn enterprises focus on hard technology, new energy, new media and other fields, covering sub sectors such as semiconductors, robotics, new materials, intelligent hardware, drones, quantum, and optical computing. Not only that, digital platform enterprises have also formed a "wild goose formation" for going global. Digital service platforms are becoming an important hub connecting international trade and an important carrier to help enterprises deeply integrate into the global supply chain. According to the report, as of the end of 2022, there are over 200 digital service platform enterprises in China with a market value exceeding 1 billion US dollars. According to statistics from Hurun Research Institute, the number of unicorn enterprises in China ranks second in the world, with leading enterprises continuously increasing. Short video platforms have become the new "blue ocean" of the global internet. Based on domestic market research and development experience, leading domestic short video companies have explored new forms of digital services that are algorithm driven, user generated, and data efficiently utilized, demonstrating strong market competitiveness in the international market. Bank of China Head Office Number
Edit：Ying Ying Responsible editor：Shen Chen
Source：legaldaily.com
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