China’s grand digitalisation plan was released today. No big surprises there, the country aims to become a world-leading digital economy by 2035. The plan is now calling for accelerated development of 5G, IoT, data centres and supercomputers. Let’s take a closer look at this vision.
The development of the digital economy will be a key KPI for the performance of local officials.
Mainland will focus on the digital transition of its economy, governance, culture, society and business sectors.
Digital infrastructure and data resources will be the main foundations of the digital China.
The country will speed up the buildout of 5G networks and gigabit optical networks to boost IoT and the Beidou satellite navigation system, China’s version of GPS.
China will continue to support healthy development of Big Tech Ecosystems, the report says.
It’s projected that the Chinese firms will invest much more in digital solutions in the next 5 years — 40% of total revenue from China’s top 2,000 companies to be generated by digital products, services, and experiences, up from a current level of less than 20%.
Already today China is the world’s largest smartphone market with nearly 1 billion users, and over 1 billion internet users.
China is also leading the rollout of next-generation 5G networks, with over 1.15 million base stations installed, more than the rest of the world combined.