BEIJING , 3rd July, 2024 (WAM) - At the 4th Global Digital Economy Conference 2024 in Beijing, Markus Staeblein, Senior Vice President of NXP Semiconductors, emphasised the necessity of collaboration between the East and West to foster a robust digital economy. He underscored China's pivotal role in this global endeavor, highlighting its rapid e-commerce development and significant contributions to smart logistics and sustainability.
According to a report from China Economic Net, Staeblein highlighted the inefficiencies and substantial waste within the global logistics industry, noting an annual occurrence of over 2 billion tons of waste and significant food losses. He praised China's proactive initiatives, such as the Green E-commerce Action Guide, designed to improve efficiency and decrease carbon emissions. NXP, in its enduring collaboration with China, pledges to expedite the shift towards intelligent logistics.
Hamdan Zakaria Doleh, Chairman of China Innovation Centre in the UAE, echoed these sentiments, noting the UAE's strategic partnership with China through the Digital Belt and Road Initiative. He highlighted Dubai's ambitions to become a global hub for Internet 3.0 technologies, including the Metaverse and blockchain, and the potential for comprehensive cooperation between China and the UAE in various sectors.
The conference also saw the release of the Global Digital Economy White Paper (2024), revealing that the combined digital economy of major economies, including the US, China, Germany, Japan, and South Korea, surpassed USD 33 trillion in 2023. China's leadership in 5G infrastructure was evident, with 3.837 million 5G base stations, accounting for over 60% of the global total.
As digital companies from China continue to expand their presence in the Middle East, the collaborative efforts between China and the UAE are set to drive significant advancements in mobile payments, 5G networks, and artificial intelligence, reinforcing the strategic partnership between the two nations.