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Digital trade new engine driving sustainable, high-quality growth

China Daily | Updated: 2023-11-27 08:09

People visit the Silk Road E-commerce Pavilion at the second Global Digital Trade Expo in Hangzhou, East China's Zhejiang province, Nov 25, 2023. [Photo/Xinhua]

On Nov 23, the second Global Digital Trade Expo opened in Hangzhou, Zhejiang province, with the theme "Digital Trade for Global Business".

In recent years, China has actively aligned with high-standard international economic and trade rules, established and improved a digital trade governance system, promoted the reform and innovation of digital trade, and constantly provided new opportunities for the world.

At present, the world economic growth momentum is insufficient, the global trade environment is complex and changing, and instability, uncertainty and unpredictability are increasing. Against this backdrop, digital trade has become a new trend and growth point for international trade.

This exposition is an important measure and practical action for the world's second-largest economy to further expand its opening-up, share its development opportunities and dividends with other countries, and support the construction of an open world economy.

Officials from 68 international organizations and business associations, embassies and consulates of 63 countries and regions, and government officials participated in the exposition, which reflects the broad appeal of global cooperation and development.

With digital trade as the carrier, China has injected new momentum into the promotion of global trade exchanges and world economic growth. In 2022, China's imports and exports of digital services reached $372.71 billion, 3.4 percent higher than that of last year, and the scale reached a record high.

China supports the construction of an open world economy and promotes economic linkage. On the one hand, in the face of digitalization, a new round of technological revolution and industrial transformation, China needs to focus on the overall layout plan for the construction of digital infrastructure, promote the comprehensive development of its digital technology, digital economy and digital ecology, accelerate the strengthening of its digital competitiveness in the world market, and vigorously develop its digital trade.

On the other hand, China needs to focus on the trade mode characterized by digital ordering, accelerate the introduction of top-level design and policy measures for the reform and new development of digital trade, further align with high-standard international economic and trade rules, support the pilot implementation of digital trade, build an online integrated service platform, and steadily expand institutional opening-up.

The Global Digital Trade Expo is a dynamic platform. It is hoped that all parties will make full use of the event to discuss cooperation, promote development and share achievements, and work together to build digital trade into a new engine for common development and inject new momentum into the world's economic recovery.


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