2024年12月07日 星期六
Policy
New Guidelines to Stimulate Digital Trade
By LONG Yun

A foreign visitor tries out XR glasses at the Global Digital Trade Expo held in Hangzhou, Zhejiang province. (PHOTO: XINHUA)

  

  New guidelines were launched on November 28 as part of China's broader strategy to promote reform, innovation, and the development of the digital sector.

  The new guidelines emphasize innovation, safety, openness, and win-win cooperation as key principles for advancing digital trade. They call for deeper integration between the real economy and the digital economy, aiming to foster new growth drivers and advantages for international trade.

  By 2029, it is expected that digitally deliverable services will account for over 45 percent of China's total service trade. By 2035, the figure would increase to more than 50 percent. These targets reflect China's commitment to enhancing its digital infrastructure and alignment with international economic and trade rules.

  A major focus of the guidelines is on opening up, particularly in terms of market access and data flow. The document proposes easing restrictions on foreign investment in the digital sector, including telecommunications, Internet, and cultural industries. Additionally, it aims to facilitate and regulate cross-border data flows, ensuring security and efficiency.

  To achieve these goals, China plans to build platforms that support high-standard digital trade opening up and participate actively in the formulation of international digital trade rules, promoting an environment that is open, fair, just, and non-discriminatory.

  In line with these objectives, China is also committed to deepening international cooperation in digital trade, including strengthening collaboration in artificial intelligence, big data, cross-border payments, and mobile payments. The country seeks to enhance its partnerships with ASEAN, Central Asian countries, BRICS nations and others, to integrate digital infrastructures further and boost digital trade.

  Moreover, the guidelines encourage the development of various players within the digital trade ecosystem, from e-commerce platforms to service providers.

  Some industry experts noted that China's leading companies have already demonstrated significant competitiveness in the international market through innovative digital services. The new policy is expected to send a positive signal, encouraging these entities to continue innovating and playing a more active role in driving economic growth and job creation.

  These new measures come at a time when China's digital trade is already showing robust growth. According to a report on China's development of digital trade released by the Ministry of Commerce this September, China's import and export of digitally delivered services trade rose 8.5 percent year-on-year to 2.72 trillion RMB in 2023, a record high. Furthermore, the import and export scale of the country's cross-border e-commerce reached 2.37 trillion RMB last year, up 15.3 percent year-on-year.

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