BEIJING, 11th January, 2024 (WAM) – Dr. Zhang Wei, Vice President, Tsinghua University National Institute of Finance, China, said that since 2018, the economic gap between developed and developing countries has gradually narrowed.
A new round of technological revolution is driving earth-shaking changes in the economic system, he added in his keynote speech at the CIFTIS-Never-End Series China Australia Business Forum held on January 10, according to China Economic Net.
In Zhang’s view, China's development, both in 2024 and in the long term, is inseparable from three trends- marketisation, globalisation and most crucial, digitisation.
“I completely agree with Dr. Zhang’s viewpoint. All major economies have formulated digital strategies by now, and the digital economy accounts for 40-50% of the GDP. For China, the digital economy accounts for a higher proportion. Digital transformation means more innovative models, bringing value multiplier effect,” Jason Zhang, Partner of Deloitte China said.
“Since 2014, the scale of China’s digital economy has shown a mushroom growth. Digital innovative technologies are emerging in endlessly, and the integration of blockchain, cloud computing, big data, Internet of Things, artificial intelligence, etc. with various industries is increasingly deepening,” Jason Zhang added.